ETF Database » IXG

ETFs With Significant Goldman Sachs Exposure

Michael Johnston — Fri, 16 Apr 2010 20:12:33 +0000

After generally impressive earnings reports sent markets higher for much of the last week, Friday’s shocking allegations against Goldman Sachs ensured that the week ended on a down note. The SEC filed fraud charges against the Wall Street giant on Friday, alleging that the firm failed to make important disclosures surrounding a subprime mortgage product some believe was destined to fail. The SEC claims that Goldman constructed and marketed ABACUS, a synthetic collateralized debt obligation linked to the performance of subprime MBS. Goldman didn’t make certain “vital information” known to investors. Specifically, the hedge fund run by John Paulson was involved in selecting which securities would be part of the portfolio, while standing to reap a huge profit if the mortgage-backed securities failed. Financial ETFs Sink The news sent Goldman stock plummeting, as GS finished Friday off more than 12% on volume nearly ten times the daily average. But once [...]

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Financial ETFs: Seven Ways To Play

Michael Johnston — Fri, 19 Mar 2010 14:28:19 +0000

The financial sector was one of the hardest areas of the economy in 2008 and early 2009, as years of excessive risk taking finally resulted in a meltdown that spurred several unprecedented emergency measures and set off one of the worst recessions in a generation. Since bottoming out last March, however, financials have surged higher, leading the way during the recovery effort (see the Top Ten ETF Performers Since The Market Bottom). While many financial ETFs remain well below pre-recession highs, they have reclaimed significant chunks of the ground lost in the last 13 months. As the ETF industry has continued to expand, options for gaining exposure to the financial sector have multiplied. According to the ETF screener, there are currently 33 non-leveraged, non-inverse ETF options that offer exposure to the financial sector. These funds include both ETFs targeting specific financial sub-industries (such as regional banks and broker-dealers) as well [...]

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Bank ETFs In Focus Ahead Of Earnings, Bonuses

Michael Johnston — Wed, 13 Jan 2010 18:19:21 +0000

The banking industry has been on a wild ride over the past few years, as the unprecedented economic environment of 2008 resulted in a wave bankruptcies and bailouts that many figured would forever change the business. But less than two years removed from the disaster, many financial institutions have staged an impressive return to glory, delivering record profits and approving massive bonuses that have reignited the “Wall Street vs. Main Street” debate. Despite its best efforts to sidestep the spotlight, the banking industry figures to be in focus in coming months as investors digest earnings reports and debate over both responsible and effective compensation policies rages. Despite continued writedowns on real estate operations, the Goldman Sachs and JP Morgans of the world have been boosted by surges in revenues from debt and equity underwriting and trading activities. But now yet another changing economic environment threatens to deal the industry a [...]

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iShares ETFs Closing?

Michael Johnston — Mon, 14 Dec 2009 15:00:52 +0000

BlackRock’s acquisition of Barclays Global Investors and iShares seemingly went off without a hitch earlier this month. But certain actions required by terms of the deal have proven difficult to wrap up, resulting in a dozen iShares funds now operating under interim investment advisory agreements and potentially closing down. As a result of the sale to BlackRock, the existing investment advisory agreements for iShares ETFs terminated on December 1, and approval of a new agreement requires shareholder action. According to iShares, investors have voted overwhelmingly to approve new agreements for 167 funds, but have received insufficient participation to do so for 12 ETFs: iShares MSCI Brazil Index Fund (EWZ) iShares MSCI EMU Index Fund (EZU) iShares MSCI Germany Index Fund (EWG) iShares MSCI Mexico Investable Market Index Fund (EWW) iShares S&P Europe 350 Index Fund (IEV) iShares S&P Global 100 Index Fund (IOO) iShares S&P Global Consumer Discretionary Sector Index [...]

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ETF Plays Ahead Of The G-20 Finance Meeting

Eric Dutram — Wed, 02 Sep 2009 11:00:32 +0000

On September 4th and 5th the finance ministers and central bank governors of the 19 most powerful countries (along with the finance minister and central bank governor of the European Union) will meet in London to discuss preliminary ideas for preventing another financial crisis and steps for removing the trillions of stimulus dollars from the market without causing serious repercussions. While it is unlikely that any major surprises will come out of the summit, the conference may give the markets some direction before the crucial heads of state meeting in Pittsburgh later this month. Three types of ETFs are likely to be in focus following this weekend’s conference; financials, currency, and commodity ETFs. Financial ETFs: Possible Volatility Some recent proposals have been extremely populist in nature, such as the current proposal in Great Britain to tax currency transactions at .005% and give the proceeds to third world countries. While extreme [...]

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Financial ETFs in Focus: Obama’s Financial Regulation Overhaul

Michael Johnston — Mon, 15 Jun 2009 15:59:41 +0000

President Barack Obama is expected this week to announce sweeping changes to the way the much-maligned U.S. financial industry is regulated. The changes, which are to be unveiled Wednesday, are expected to include the development of a more centralized regulation system and enhanced consumer-protection capabilities. Speaking on the new developments, Treasury Secretary Timothy Geithner noted that the current regulatory system “was fundamentally too fragile and unstable and it did a bad job of protecting consumers and investors.” Following the release of plan details, financial sector ETFs are sure to be in focus this week as investors digest and dissect what may be the most important piece of legislature in Obama’s presidency to date. What to Expect Although the details of the administration’s proposed regulatory changes won’t be officially released until mid-week, a piece by Geithner and Lawrence Summers in Monday’s Washington Post has already shed light on what can be expected. [...]

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Stress Tests Results Set Stage For Bank ETF Rally

Michael Johnston — Fri, 08 May 2009 05:01:06 +0000

Late Thursday afternoon, the U.S. Treasury Department released the much-awaited results of the government’s “stress tests” on 19 of the nation’s largest banks. Among the big names instructed to raise capital: Bank of America (BAC), Wells Fargo (WFC), and GMAC. In all, the government’s results indicate that 10 of the banks tested need to raise a total of $75 billion in capital. Bank of America (BAC): $33.9 billion Wells Fargo (WF): $13.7 billion GMAC: $11.1 billion Citigroup (C): $5.5 billion Regions Financial Corp. (RF): $2.5 billion SunTrust Banks (STI): $2.2 billion KeyCorp (KEY): $1.8 billion Morgan Stanley (MS): $1.8 billion Fifth Third (FITB): $1.1 billion PNC Financial Services: $600 million But the news out of Washington wasn’t all bad – JP Morgan (JPM), American Express (AXP), and Goldman Sachs (GS), along with 6 others, were told that their capital levels are sufficient to withstand a deeper recession: JP Morgan Chase (JPM) [...]

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ETF Database » IXG

ETFs With Significant Goldman Sachs Exposure

Related Posts:

Financial ETFs: Seven Ways To Play

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Bank ETFs In Focus Ahead Of Earnings, Bonuses

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iShares ETFs Closing?

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ETF Plays Ahead Of The G-20 Finance Meeting

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Financial ETFs in Focus: Obama’s Financial Regulation Overhaul

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Stress Tests Results Set Stage For Bank ETF Rally

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