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Sunday, August 12, 2012

Harry Dent Tactical ETF To Close - Poor Performance

From Aug 6, 2012: Harry Dent Tactical ETF Gets The Ax
After three years of dismal performance and lack of investor interest, Dent Tactical ETF (DENT), the brainchild of Harry Dent — founder of economic forecasting and research firm HS Dent — is shutting down Wednesday. AdvisorShares, best known for providing actively managed ETFs, is liquidating it — a little more than a month before its third birthday. 

AdvisorShares recently announced the closing of the AdvisorShares Dent Tactical ETF (DENT). They decided to close the fund rather than pursue the previously planned reorganization of DENT into the AdvisorShares Meidell Tactical Advantage ETF (MATH). The last day of trading is tomorrow – August 8, 2012. I advise any remaining owners to dispose of their shares prior to delisting using a limit order.

Noah Hamman, CEO of AdvisorShares, said “We determined it was in the best interest of the shareholders to close DENT due to the amount of time required for the merger and its associated costs.”

DENT has been on ETF Deathwatch since May 2011 and is flagged by the ETF Field Guide for having liquidity concerns in three different measurements.


Friday, August 10, 2012

S&P500 Earnings Adjusted Inflation At Record Highs

S&P500 Inflation Adjusted Earnings

Currently, the S&P500 is trading at $1,400.18.

Click to view full size image

If you multiply Q2 earnings (over 84% of S&P 500 corporations have reported), by four to get an annual estimate, then the result is a new all time high for inflation adjusted S&P500 earnings.

"Historical Chart of Inflation Adjusted Earnings of S&P500 Index"
Click to view full size image

At the current level of 1,400, the S&P500 is still 10.5% below its all time high of 1,565.

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