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OK, this must be the signal that "the top is near"

rforno
in Other Investing

Irrational idiotic exuberance -- markets can only go up, right?

(Reuters) -Volatility Shares, an issuer of exchange-traded funds, filed on Wednesday to launch a total of 27 highly leveraged ETFs, including the first-ever proposed 5x ETF for the U.S. market, at a time of rising caution over inflated asset prices as markets continue their upward swing....

https://finance.yahoo.com/news/volatility-shares-files-first-ever-182608186.html

Comments

  • MarkMark
    Correct.

    "Volatility Shares builds leveraged, crypto-linked, and VIX related exchange-traded funds (ETFs) for experienced traders."

    AKA Highway to Hell
  • yogibearbullyogibearbull
    edited October 15
    They are just testing this SEC.

    SEC has restricted ETFs to +/- 2x, but didn't restrict ETNs that can still be +/- 3x.

    Existing +/- 3x ETFs weren't affected - may be that is giving the filers hope.

    Some have already filed for +/- 3x ETFs to test, but +/- 5x may prompt SEC to act quickly on this.
  • larryB
    Someone will buy this shit. As they say in the car biz, “ an ass for every seat!”
  • rforno
    yogibearbull said:

    They are just testing this SEC.

    SEC has restricted ETFs to +/- 2x, but didn't restrict ETNs that can still be +/- 3x.

    Existing +/- 3x ETFs weren't affected - may be that is giving the filers hope.

    Some have already filed for +/- 3x ETFs to test, but +/- 5x may prompt SEC to act quickly on this.

    Sure ... but even that *someone* is offering such a product after the past few years is kind of telling/worrysome, at least to me.

  • hank
    edited October 15
    Pre-ordered audio version of Sorkin’s 1929 several weeks ago after first hearing about it. Started listening last night. Excellent. Very well written and narrated by Sorkin himself. About more than just the market mania / crash. A good historical account of the period. Highly recommend.
  • Old_JoeOld_Joe
    Just ordered from Amazon. I figured that there will be a long wait list at the SF public library, and I don't enjoy the pressure of having to read something quickly because it's not renewable. Hell, $30 bucks is only two bottles of decent wine, and the book will last a lot longer than the wine. Also probably a good reference source to keep around.
  • davfordavfor
    @hank Thanks for the 1929 recommendation. Just bought the kindle version.
  • larryB
    @Old_Joe. Just got in the que for the on line version. Alameda, contra costa and Sacramento library systems have 8 copies and I am #86. The next depression may have started by the time I get it.
  • davidrmorandavidrmoran
    one or the other

    https://www.nytimes.com/2025/10/17/business/bull-market-trump-biden.html
  • Old_JoeOld_Joe
    Yes.
  • kings53man
    edited October 17
    We have a Super bull which just eats super grains (Crypto) & breath's black smoke (fossil fuel), Just wait and see. Biden's bull were on fake feed (spending/stimulus which I started by the way and Biden copied and took credit for good time), we are cutting them ASAP. Budget deficient - smoke and mirror - I started the tariff on selected few and Biden's continued. We are now collecting so much tariff that the deficit will run with the tail between the legs.
  • CrashCrash
    Um... huh?
  • davidrmorandavidrmoran
    kings53man said:

    We have a Super bull which just eats super grains (Crypto) & breath's black smoke (fossil fuel), Just wait and see. Biden's bull were on fake feed (spending/stimulus which I started by the way and Biden copied and took credit for good time), we are cutting them ASAP. Budget deficient - smoke and mirror - I started the tariff on selected few and Biden's continued. We are now collecting so much tariff that the deficit will run with the tail between the legs.

    fuckin' awesome high ... will you puhleeze sell all of us some? please??
  • MarkMark
    +10 david
  • WABACWABAC
    Ford issuing sub-prime loans so that people--presumably including its own workers--can afford to buy their products caught my attention.
  • rforno
    WABAC said:

    Ford issuing sub-prime loans so that people--presumably including its own workers--can afford to buy their products caught my attention.

    History may not repeat but it sure a hell rhymes....
  • hank
    https://www.zerohedge.com/political/mark-cuban-backed-startup-lets-low-fico-people-tap-used-car-equity-even-if-not-paid-30
  • MarkMark
    Vultures gleefully getting fatter. Lower than slug spit.
  • larryB
    @Hank. That enterprise that allows folks to tap equity that probably don’t even have is among the most disgusting exploitation of the working poor I have ever seen.
  • hank
    edited October 19
    If I read that (linked story) correctly, Cuban’s company is charging 30% interest on these used car equity loans. Disgusting if true. Like dancing over people’s financial graves for one last ”hurrah” before they’re out on the street.
    Mark said:

    Vultures gleefully getting fatter. Lower than slug spit.

    Exactly!

  • Level5
    I think anything published by Zero Hedge needs to be fact checked.
  • hank
    edited October 19
    Level5 said:

    ”I think anything published by Zero Hedge needs to be fact checked.”

    Fair enough. I’m not familiar with ZeroHedge. Another source puts the cap at 24% on used car loans. And their own literature cites a $40 annual fee.

    I don’t doubt that 24% figure for the lowest rated borrowers. Of course, 24% if compounded quarterly or monthly would lead to a much higher annual rate. When I do monthly compounding (just out of curiosity) I get close to 27% annual.

    Usury laws vary by state. In Colorado, potentially as high as 45% interest is allowed on some types of loans.
  • Level5
    Info on asset-secured credit cards: https://www.nerdwallet.com/credit-cards/learn/yendo-credit-card
  • Observant1
    Level5 said:

    I think anything published by Zero Hedge needs to be fact checked.

    Factual reporting on the ZeroHedge website is rated low by Media Bias Fact Check.
    https://mediabiasfactcheck.com/zero-hedge/
  • hank
    edited October 19
    Observant1 said:

    Level5 said:

    I think anything published by Zero Hedge needs to be fact checked.

    Factual reporting on the ZeroHedge website is rated low by Media Bias Fact Check.
    https://mediabiasfactcheck.com/zero-hedge/
    Thanks. Fortunately, TechCrunch (the 24% figure I cited) has a high credibility rating 4/5 which corresponds to what they rate the NYT.

  • Observant1
    hank said:

    Thanks. Fortunately, TechCrunch (the 24% figure I cited) has a high credibility rating.

    Nice!
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