With the repeated, if brief, Nasdaq selloffs, ETFs are increasingly accused of inflating bubbles in the equity market. I have made a similar argument in “How The ETF Bubble Feeds The Stock Market Bubble.”
However, the real big ETF story of 2017 is not smart beta funds or silly FANG ETFs, but the continued inflows into bond ETFs.
It's entitled 'Joconde Nue' and 'Monna Vanna,' and French scientists studying the charcoal drawing of a topless woman with a face similar to that of the Mona Lisa, the best known portrait in the world exposed at the Louvre Museum in Paris, believe it was at least partially painted by Leonardo Da Vinci.
Morgan Stanley announced Friday it agreed to buy commercial real estate credit platform Mesa West Capital. Is this a smart move for Morgan Stanley or is the investment bank repeating an old mistake?
Let’s take a look at what Mesa West is and what it’s been up to.
Based in Los Angeles, Mesa West Capital is a privately held portfolio lender that finances commercial real estate acquisitions, refinancings and recapitalizations.
2017 has been the year of issuing tokens on top of Ethereum, and one of the more intriguing tokens recently announced is Tether, which is backed by U.S. dollars in a bank account. However, there is an issue with this token that makes it unlikely to stand the test of time, at least in its current form.
What is Tether?
The basic concept behind Tether is quite simple. An entity holds U.S. dollars in a bank account and then issues Tether tokens based on that bank account balance. One Tether is equal to one US dollar.