Long Jim Cramer ETF Shutters After Luring in Just $1.3 Million
An exchange-traded fund that aimed to track CNBC anchor Jim Cramer’s stock picks is planning to shutter just five months after launching.
AssetMark: Yes, Your Clients Want To Know How Your TAMP Helps You Shine
(AssetMark) Back-office operations in most industries aren’t a topic of conversation with clients. We don’t ask our dentists, real estate agents, or even surgeons about their staff, their process, or whether they outsource certain functions of their business. In the financial industry though, transparency is the cornerstone of trust. We’re here to make transparency easier.
SMArtX Advisory Solutions Announces Leadership Transition: Jon Pincus Appointed CEO as Evan Rapaport Continues Role on Board of Directors
SMArtX Advisory Solutions ("SMArtX"), a leading innovator in unified managed accounts (UMA) technology and architect of the SMArtX Turnkey Asset Management Platform ('TAMP'), today announced that the firm's founder, Evan Rapoport, is stepping down from his role as Chief Executive Officer and handing the reins to the company's current President & COO, Jonathan Pincus. Mr. Rapoport will continue his service on SMArtX's board of directors.
Flexible Plan Releases New ETF Deathwatch List
In July, 18 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list and 54 were removed, bringing the total to 506.
Seventeen products were added to the list due to low trading volume. The low volume in these products could be due to the nature of their investment product. One product was added due to low assets under management (“AUM”), though it may have enough AUM to keep it from closure. Our system takes into account both AUM and volume. If both remain low, these funds could be considered for closure.
Morningstar Investment Management: Cash Is No Longer Trash But the Opportunity Cost Might Be Greater Than You Think
(Morningstar Investment Management) There's a concept in investing of "fighting the last war."
A quick summary of the concept would be:
- Investors experience a bad outcome,
- Investors emotionally anchor themselves to that outcome, and
- It prevents them from acting rationally going forward.
Last year was one of those bad outcomes—the stock market experienced its worst year in a decade—and investors are having a hard time shaking the feeling.