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26 March 2012


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You seem to have taken an article which provides a reasoned argument against leveraged ETFs and applied the argument to all ETFs.

You gave a more detailed critique of ETFs on 16/09/11 but even that left me uncertain whether ALL ETFs (ie. including those which hold and track the underlying asset rather than messing about with derivatives) should be avoided.

Any chance you could clarify?


Thanks for that valuable insight Terry.

Some time ago, before gold took off I bought ETFs in that commodity believing that it tracked the price. When it became apparent there was a considerable discrepancy between the value of my ETFs and the price of gold I unloaded them gradually. Fortunately, I made a worthwhile profit.

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