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What just happened to IWD? Bad data or massive divergence from NAV?


I realize the markets are way off today, but as I type this the Russell 1000 Value index is only down about 4.5%, yet IWD (the iShares ETF that tracks it) is being quoted as down over 33%. Bad data feed, or is it really diverging that much from its NAV?
-- Rich Carreiro snipped-for-privacy@rlcarr.com
Reply to
Rich Carreiro

Look at the chart on yahoo, at 2:47 it traded for 10 cents? I'm guessing this was some huge snafu, not real trades.
Reply to
JoeTaxpayer

I've never understood ETFs, and as a result have avoided them. As for the market volitility today (Thursday), my sense is that something was amiss and we'll hear about it over the next few days.
Reply to
HW \"Skip\" Weldon

If those were real prices, as opposed to some sort of reporting problem, then likely so. Some time back, I had placed limit sell orders on some Vanguard ETFs. In the morning, they sold at above the limit price, which I thought was just dandy. Unfortunately, word came from Wells Fargo that they'd been ordered to roll back all those transactions to do to some sort of error at the exchanges.
Brian
Reply to
Default User

I know this is an unpopular stance amongst the financially conversant, but ... maybe there's too much money concentrated in too few hands with too much emphasis on 'making money' instead of producing economic value. If there's validity to that, then perhaps we have our own 'Greece,' not realizing that all this is "our" fault. By putting money into funds, hedge funds, asset managers, private equity, proprietary trading, etc., all with demands that these 'make money' we concentrate money into a few hands. My opinion only is that we may have created a culture that pretends economic efficiency, but is in fact ignoring the human factor in the doctoral equations (always a fatal error).
I was out prepping my lawn for fresh sod this afternoon, and missed the fun, but my own modest portfolio is based on production of very sound and ethical companies, so when I heard the 'down 900 points,' I just got a little ticked that I missed the 'action.' I'm seriously irritated long-term that IPOs and municipal bond markets have all but disappeared for the individual investor, and that individual investors get treated like those who still pay cash (credit card) for medical services. But I'm just spitting into the wind.
Mark Fisher of MBF apparently is a high-tech trader in a state of the art firm. He said (words to the effect): if we don't slow this down, we're going to have a global financial disaster, and it'll be all our own fault. Humans just can't keep up, he said. His is a different perspective from my own, but there are similarities.
The basis of any society, regardless of function and technology, is the individual responsibility of each member. By displacing responsibility, we're inviting destruction. "I get paid to do this" and "everyone is doing it" are just a couple of excuses amongst millions.
Reply to
dapperdobbs

like:
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Thanks, interesting article, and given the roll-back of Glass-Steagal, it carries some weight. It looks like an interesting site, too. I notice the article was written May 4th.
My take is that "bankers" (concentration of money) is challenging governments, or perhaps just ignoring them. The article you directed to echoes a 1980's book concerning Latin American balance of power between land owners, church, and military.
Btw, I finally came up with an answer to a question posed here, "What is it that 'bankers' did wrong, or what was criminal about their actions?" My answer is to ask the same questions about oil spills. Oil companies at least have a product available to everyone, and they get billed for their spills. The legitimacy question the article brought up applies when taxpayers have to pick up the bill for "bankers" nasty spills.
The scope of this 'problem' with the 'financial system' definitely merits a quick and terminal solution.
Reply to
dapperdobbs

That was one of John's Mauldin's newsletters. If you liked it, you might want to sign up for them at:
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No charge.
John Mauldin is in the business of assessing and recommending hedge funds to (mostly) accredited investors. But he sends out two newsletters a week. One Friday night with his analysis and opinions and one on Monday with someone else's. I've read every word of every one since 2002.
I like them for being detailed and insightful. His arguments are always well supported by outside sources. I know I'm gushing, but I think they're very good. Usually, he includes a brief ad describing the services he offers, but it is brief and polite. I've never been spammed and I have no connection with him other than being a long time reader.
This week's letter is a scary piece on the emerging crisis for sovereign debt.
-- Doug
Reply to
Douglas Johnson

Thanks for info, I may try it. Most of my reading is 10k's and texts such as econ, accounting, with an occasional 'current' book. Understanding the background is much easier than trying to evaluate opinions.
Reply to
dapperdobbs

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