We are pleased to announce that NFLU (2x Long NFLX) launches today.

Our ETFs

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ETF Model Portfolios

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Themes, Edges, and Asymmetrical Risk

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Yesterday's Episode of The Watchlist

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We have updated our ETF Model Portfolios to include a Theme/Edge allocation. We will continue to build this out as more thematic ETFs come to market in areas we think are potentially good long term ideas (Maybe some from us coming)

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Investment Themes

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Politically Neutral-ESGX

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This straddles two of my favorite investment themes and highlights the stupidity of ESG. AI is going to need power, lots of it, it will not all be clean. Imagine being a money manager, a fiduciary, and you can't reap these returns for your clients because some of these companies are powered by fossil fuels?

Power thirst complicates ESG investors' love affair with tech stocks-Reuters

Investors who manage hundreds of billions of dollars are pressing Microsoft, Alphabet and others for more information on the power needed for artificial intelligence and advanced computing, to help decide whether the sector should stay heavily represented in sustainable funds, investors said.

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Good, when you hire a money manager you want returns.  Doing good for society is a great idea in concept, but in reality who decides?  Better off making as much as you can and using your gains to reflect your values.

What’s the Difference Between Sustainable Fund Managers and Other Fund Managers? Not Much-WSJ

For example, most of the portfolio managers we surveyed—including a majority running sustainable funds—said they wouldn’t voluntarily sacrifice even one basis point (0.01 percentage point) of return to advance environmental and social (ES) goals, citing their fiduciary duty to clients. That means most managers, regardless of their fund’s label, will incorporate ES factors into their investment decisions only if they believe doing so will boost financial returns, or if they are forced to because of fund mandates. And, when asked what drives a company’s long-value, managers in both camps ranked ES factors as significantly less important than several other issues.

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Is green investing unsustainable?-Morning Brew

Over 27 ESG-related funds have been shut down in the first half of 2024, while only 2 were launched over the same time period—and that’s on top of the 36 that were shuttered in 2023.

Even worse: Investors pulled $8.8 billion from US ESG funds in only the first three months of 2024, according to Morningstar, making it the worst quarter for the category of funds ever.

Europe has way underperformed the US, I think this is one of the main reasons....

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But for all its critics, the ESG slowdown has been US-based—in Europe, green investing is faring far better. For example, during the same quarter this year where ESG funds lost nearly $9 billion, European ESG funds gained $11 billion, according to Morningstar.

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So far not impacting the stock, but it could.....

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Toyota Deflects Attack by Anti-DEI Activist Over LGBTQ Programs-BNN Bloomberg

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Another example of why you should keep politics out of investing......

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Trump Media Insider Cashes in Stake-Barron's

Shares of Trump Media, which is majority owned by Trump, have dropped about 70% since the merger, on worries that Trump might lose his re-election bid to Vice President Kamala Harris in November.

Self Defense-GUNZ

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SWBI has run into some resistance at the 20 day EMA. Still think it looks like it wants to fill the gap from early in the month.

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Regional Bank CRE Exposure-SKRE

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Haven't talked much about regional banks with the Fed easing rates, but this is an issue and the problems are still there. KRE looks toppy......

Fed’s new liquidity rule spells more pain for regional banks-Risk.Net

The US Federal Reserve is considering a series of rule changes to prevent a repeat of last year’s bank failures, including limiting the amount of held-to-maturity (HTM) assets in liquidity buffers.

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AI

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I also think copper could be an AI play. Watching FCX closely.

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Copper Loves China and the Fed. 6 Sleeper Stocks to Play Catch-Up.-Barron's

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FCX is extended and there's resistance here. Could break out and test 55, but as I am not a breakout trader I would prefer to wait until it settles down.

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China

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Could be something here, going to wait for the hype to die down and reevaluate.

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Edges

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Congressional Trading

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