I am excited for the New ‘Ultra Gyros’ Greek Fund and the ‘Ultra Beuno’ Italian ETF coming out from ProFunds.
Their tagline is – ‘We go to ZERO – FASTER!’
If you have invested since 2008, you have tried on an ‘ULTRA’ ETF from ProFunds. You have crashed. You know the dirty secret of these so called tools. They are thrilling. But, they all go to zero.
I noticed today that $UVXY was trending. I thought maybe it was a trucking stock, a new biotech or healthcare leader, a neglected component supplier for the Microsoft Surface. Nope…just the ‘Ultra’ Pro Fund Short VIX ETF.
Kudo’s to them for rubbing our noses in their profits. People are going to get their crack and ProFunds is the financial dealer of choice. It’s been great timing and marketing genius.
When it is all said and done at the end of this ridiculous trend, investors will get back to owning individual stocks. I don’t know when of course but we are a day closer not further away.
In the meantime, think of these products as link bait. You can click over, but click away quickly as it’s just a stock market ‘rick roll‘.