No, he're pretty much correct. Inverse ETFs generate a ton of costs that regular ETFs don't because they have to use leverage, futures contracts, derivatives etc to generate returns close to the inverse on short time scales. I don't think holding inverse ETFs long term, regardless of whether its stocks or gold, makes sense for pretty much all retail investors.
I agree, John X, but our perspectives are different from that of my friend presence. He is a trader, attempting to beat the market. He believes he
can beat the market, and he is using "technical analysis" to do it. As for me, and probably you, I do not think that he can reliably do this feat, because I do not think anyone can. He may or may not have done it in the past (I have no way of knowing that, and he is certainly not going to release past performance numbers that would make him look bad) and he may or my not do it in the future, but the point is I wouldn't bet my precious money on it. I can't count on it.
But in this particular instance, if I
had counted on it, on presence's prognosticating prowess, I would have come out ahead. At least so far. Half of making money speculating is selling at the right time, and presence does not recommend selling yet. But so far, reality has, for whatever reason, cooperated and backed up his bold call.
So, a congratulations is in order.
Then in comes Zippyjuan and wisely and brilliantly explains how SPXU or whatever has gone down since 2010. And so that's supposed to somehow reflect badly on presence? Earth to Obvious, come in Obvious: he wasn't recommending it in 2010! From the time he
did recommend it until now, it is up. That's the bottom line.
But again,
I did not recommend it, and I would not recommend it. I have a completely different investment philosophy.
But credit is due where credit is due. This thread is a unicorn, a pink four-leaf clover; you could subscribe to a hundred investment guru newsletters and you still might never again in your lifetime see a prediction that actually came true like this. So congratulations to presence.
