Lets take the air out of this Financial Services Bubble
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This morning I put together an article that you can read by clicking here that gave me a list of all stocks that have more revenue this year then last year and by revenue, I mean sales and not the earnings after expenses for those of you that are not familiar with financial statements.
I’ll give you a minute to take a quick look at it.
As you saw, ten percent of all of those companies are listed as being “Financial Services”
In my ignorance, I originally thought they were talking about banks, stock companies, etc., like Goldman Sachs.
But I wanted to understand it better so I dug in and created this list that follows.
What bothers me is that over 95% of these companies are ETF’s
For those of you that don’t know what that means, they are Exchange Traded Funds and their definition can be found by clicking here
Unlike an option, I personally think they are worthless, because if I wanted to buy a option on a stock or commodity, somebody that actually owned the stock or commodity needs to agree to transfer the stock to me if I exercise my option.
The reason I think that they are worthless is this.
Lets just say for instance that the economy had totally crashed last September like it almost did.
The people that actually owned the stocks would be broke too, but I’ll bet that they would not be willing to give you the stock certificate if they had it because you too would not have any money, and if that is the case, exactly what would you own?
So if that’s the case, perhaps some of you proponents of ETF’s would care to clarify exactly how a person can own for instance INTC if the ETF is a derivative of INTC and not the real thing?
| XBI | SPDR S&P Biotech (ETF) | $515.1M |
| XRT | SPDR S&P Retail (ETF) | $567.4M |
| GRH | GreenHunter Energy, Inc. | $27.9M |
| KBE | SPDR KBW Bank (ETF) | $743.2M |
| MGI | MoneyGram International, Inc. | $222.9M |
| XOP | SPDR S&P Oil & Gas Explore & Prod. (ETF) | $509.7M |
| KRE | SPDR KBW Regional Banking (ETF) | $513.0M |
| PGF | PowerShares Fin. Preferred Port. (ETF) | $1.4B |
| VIG | Vanguard Dividend Appreciation (ETF) | $1.0B |
| XHB | SPDR S&P Homebuilders (ETF) | $761.5M |
| JXI | iShares S&P Global Utilities Sector(ETF) | $162.2M |
| PBE | PowerShares Dynamic Biotech &Genome(ETF) | $178.4M |
| XME | SPDR S&P Metals and Mining (ETF) | $760.2M |
| PZD | PowerShares Cleantech Portfolio (ETF) | $141.0M |
| KXI | iShares S&P Global Consumer Staple(ETF) | $300.4M |
| PBJ | PowerShares Dynamic Food & Beverage(ETF) | $96.8M |
| PJF | PowerShares Dynamic Large Cap Ptf. (ETF) | $43.3M |
| XPH | SPDR S&P Pharmaceuticals (ETF) | $61.8M |
| XLF | Financial Select Sector SPDR (ETF) | $6.7B |
| VV | Vanguard Large-Cap (ETF) | $2.6B |
| GDX | Market Vectors Gold Miners (ETF) | $5.8B |
| VCR | Vanguard Consumer Discretionary (ETF) | $110.9M |
| PSL | PowerShares Dynamic Consumer Sta. (ETF) | $44.6M |
| VFH | Vanguard Financials (ETF) | $436.4M |
| PMR | PowerShares Dynamic Retail (ETF) | $81.2M |
| XES | SPDR S&P Oil & Gas Equipt & Servs. (ETF) | $312.4M |
| PDP | PowerShares DWA Technical Ldrs Pf (ETF) | $180.4M |
| IGV | iShares S&P NA Tec.-SW. Idx. Fund (ETF) | $338.5M |
| IEO | iShares Dow Jones US Oil & Gas Exp.(ETF) | $392.5M |
| PRN | PowerShares Dynamic Indls Sec Port (ETF) | $113.9M |
| CSWC | Capital Southwest Corporation | $288.6M |
| VDC | Vanguard Consumer Staples (ETF) | $683.9M |
| VPU | Vanguard Utilities (ETF) | $345.2M |
| EWQ | iShares MSCI France Index (ETF) | $318.8M |
| IAT | iShares Dow Jones US Reg Banks Ind.(ETF) | $128.9M |
| VO | Vanguard Mid-Cap (ETF) | $1.9B |
| PTF | PowerShares Dynamic Tech Sec (ETF) | $33.2M |
| GTU | Central Gold-Trust | $479.2M |
| DSC | SPDR Dow Jones Small Cap (ETF) | $22.7M |
| VDE | Vanguard Energy (ETF) | $753.6M |
| IHI | iShares Dow Jones US Medical Dev.(ETF) | $381.5M |
| IHE | iShares Dow Jones US Pharm Indx (ETF) | $145.9M |
| PJB | PowerShares Dynamic Banking Sec (ETF) | $71.1M |
| RZV | Rydex S&P SmallCap 600 Pure Value (ETF) | $101.5M |
| VIS | Vanguard Industrials (ETF) | $265.2M |
| VPL | Vanguard Pacific (ETF) | $1.4B |
| MTK | SPDR Morgan Stanley Technology (ETF) | $227.8M |
| IOO | iShares S&P Global 100 Index (ETF) | $756.3M |
| QID | ProShares UltraShort QQQ (ETF) | $874.9M |
| IWZ | iShares Russell 3000 Growth Index (ETF) | $376.4M |
| IYT | iShares Dow Jones Transport. Avg. (ETF) | $499.6M |
| DSG | SPDR Dow Jones Small Cap Growth (ETF) | $104.3M |
| PJP | PowerShares Dynamic Pharmaceuticals(ETF) | $134.6M |
| LQD | iShares IBoxx $ Invst Grade Bd Fd (ETF) | $12.1B |
| IBB | iShares NASDAQ Biotechnology Index (ETF) | $1.6B |
| SDY | SPDR S&P Dividend (ETF) | $1.0B |
| IYR | iShares Dow Jones US Real Estate (ETF) | $3.0B |
| VB | Vanguard Small-Cap ETF | $2.4B |
| XLY | Consumer Discretionary SPDR (ETF) | $1.4B |
| JKE | iShares Morningstar Large Growth (ETF) | $418.4M |
| AMPL | Ampal-American Israel Corporation | $159.0M |
| PFI | PowerShares Dynamic Finl Sec Fnd (ETF) | $18.7M |
| PTH | PowerShares Dynamic Heathcare Sec (ETF) | $90.2M |
| IYF | iShares Dow Jones US Financial (ETF) | $531.4M |
| IEZ | iShares Dow Jones US Oil Equip. (ETF) | $265.4M |
| EWH | iShares MSCI Hong Kong Index Fund (ETF) | $2.2B |
| PUI | PowerShares Dynamic Utilities (ETF) | $46.5M |
| IWB | iShares Russell 1000 Index (ETF) | $2.7B |
| MXI | iShares S&P Global Mat. Sector Inde(ETF) | $775.4M |
| JKD | iShares Morningstar Large Core Idx (ETF) | $269.5M |
| WTU | Williams Coal Seam Gas Royalty Trust | $30.1M |
| EMG | SPDR Dow Jones Mid Cap Growth (ETF) | $48.6M |
| XLK | Technology SPDR (ETF) | $4.2B |
| RZG | Rydex S&P SmallCap 600 Pure Growth (ETF) | $9.0M |
| VBR | Vanguard Small-Cap Value (ETF) | $1.3B |
| EWI | iShares MSCI Italy Index (ETF) | $105.7M |
| TCAP | Triangle Capital Corporation | $124.2M |
| PWT | PowerShares Dynamic Sm. Cap Growth (ETF) | $38.2M |
| EWG | iShares MSCI Germany Index Fund (ETF) | $951.2M |
| ACTG | Acacia Research Corporation | $247.8M |
| XLP | Consumer Staples Select Sect. SPDR (ETF) | $2.0B |
| VTV | Vanguard Value (ETF) | $2.9B |
| ISI | iShares S&P 1500 Index Fund (ETF) | $301.4M |
| IWR | iShares Russell Midcap Index Fund (ETF) | $4.5B |
| XLE | Energy Select Sector SPDR (ETF) | $6.3B |
| TMW | SPDR Dow Jones Total Market (ETF) | $191.0M |
| DIA | Diamonds Trust, Series 1 (ETF) | $8.3B |
| EWT | iShares MSCI Taiwan Index (ETF) | $3.4B |
| PFM | PowerShares Dividend Achievers (ETF) | $104.2M |
| PRS | Primus Guaranty, Ltd. | $137.3M |
| IYK | iShares Dow Jones US Consumer Goods(ETF) | $458.4M |
| EWL | iShares MSCI Switzerland Index Fund(ETF) | $281.2M |
| IXN | iShares S&P Global Technology Sect.(ETF) | $326.5M |
| VWO | Vanguard Emerging Markets ETF | $16.6B |
| IYG | iShares Dow Jones US Financial Svc.(ETF) | $300.6M |
| VXF | Vanguard Extended Market (ETF) | $766.5M |
| EBI | Evergreen Int’l Balanced Income Fund | $164.6M |
| TFC | Taiwan Greater China Fund | $74.3M |
| XLV | Health Care SPDR (ETF) | $2.3B |
| IJH | iShares S&P MidCap 400 Index (ETF) | $6.2B |
| ICGE | Internet Capital Group, Inc. | $257.1M |
| PUW | PowerShares WilderHill Prog. Ptf. (ETF) | $52.4M |
| EWC | iShares MSCI Canada Index (ETF) | $3.0B |
| VUG | Vanguard Growth (ETF) | $4.0B |
| PKB | PowerShares Dynamic Bldg. & Const. (ETF) | $53.4M |
| XLI | Industrial SPDR (ETF) | $2.0B |
| ELR | SPDR Dow Jones Large Cap (ETF) | $28.2M |
| JFC | JF China Region Fund Inc. | $91.4M |
| IYJ | iShares Dow Jones US Industrial (ETF) | $315.8M |
| IYW | iShares Dow Jones US Technology (ETF) | $1.4B |
| PNNT | PennantPark Investment Corp. | $167.5M |
| PSEC | Prospect Capital Corporation | $551.8M |
| EMM | SPDR Dow Jones Mid Cap (ETF) | $27.8M |
| IEP | Icahn Enterprises, L.P. | $3.0B |
| IWF | iShares Russell 1000 Growth Index (ETF) | $11.4B |
| KLD | iShares FTSE KLD Select Scil Idx Fd(ETF) | $120.9M |
| FXI | iShares FTSE/Xinhua China 25 Index (ETF) | $10.0B |
| PBW | PowerShares WilderHill Clean Energy(ETF) | $787.9M |
| ELG | SPDR Dow Jones Large Cap Growth (ETF) | $219.2M |
| KCE | SPDR KBW Capital Markets (ETF) | $100.6M |
| IWM | iShares Russell 2000 Index (ETF) | $11.8B |
| ONEQ | Fidelity NASDAQ Comp. Index Trk Stk(ETF) | $112.6M |
| IWV | iShares Russell 3000 Index (ETF) | $3.3B |
| PTJ | PowerShares Dynamic Healthcare Ser (ETF) | $19.0M |
| VGT | Vanguard Information Technology (ETF) | $441.8M |
| IAU | iShares COMEX Gold Trust (ETF) | $2.7B |
| PYZ | PowerShares Dynamic Basic Material (ETF) | $24.6M |
| RPV | Rydex S&P 500 Pure Value (ETF) | $19.9M |
| IWC | iShares Russell Microcap Index (ETF) | $318.2M |
| EXI | iShares S&P Global Industrials Sec(ETF) | $113.8M |
| VHT | Vanguard Health Care ETF | $588.0M |
| IWP | iShares Russell Midcap Growth Idx. (ETF) | $2.4B |
| IAK | iShares Dow Jones US Insur. Index (ETF) | $36.3M |
| EWP | iShares MSCI Spain Index (ETF) | $249.2M |
| IVW | iShares S&P 500 Growth Index (ETF) | $6.1B |
| EVX | Market Vectors Environ.Serv. Index (ETF) | $33.0M |
| ICF | iShares Cohen & Steers Realty Maj. (ETF) | $1.7B |
| SLV | iShares Silver Trust (ETF) | $5.1B |
| IJR | iShares S&P SmallCap 600 Index (ETF) | $4.4B |
| IJT | iShares S&P SmallCap 600 Growth (ETF) | $1.5B |
| CET | Central Securities Corp. | $387.6M |
| IJK | iShares S&P MidCap 400 Growth (ETF) | $2.0B |
| ITB | iShares Dow Jones US Home Const. (ETF) | $219.0M |
| NYC | iShares NYSE Composite Index (ETF) | $112.6M |
| NRT | North European Oil Royalty | $289.5M |
| DGT | SPDR DJ Global Titans (ETF) | $100.8M |
| VGK | Vanguard European (ETF) | $2.5B |
| CHN | China Fund Inc. (The) | $637.6M |
| IWO | iShares Russell 2000 Growth Index (ETF) | $3.1B |
| IVV | iShares S&P 500 Index (ETF) | $21.5B |
| EWK | iShares MSCI Belgium Investable Mkt(ETF) | $169.3M |
| ECPG | Encore Capital Group, Inc. | $393.6M |
| RXI | iShares S&P Global Consumer Dis Sec(ETF) | $80.4M |
| JKK | iShares Morningstar Small Growth (ETF) | $87.2M |
| IYH | iShares Dow Jones US Healthcare (ETF) | $642.4M |
| PWV | PowerShares Dynamic Lg. Cap Value (ETF) | $321.6M |
| MAIN | Main Street Capital Corporation | $152.5M |
| RWR | SPDR DJ Wilshire REIT (ETF) | $978.9M |
| IJJ | iShares S&P MidCap 400 Value Index (ETF) | $1.7B |
| IXG | iShares S&P Global Financials Sect.(ETF) | $288.6M |
| IYY | iShares Dow Jones U.S. Index Fund (ETF) | $610.4M |
| KYE | Kayne Anderson Energy Total Return Fund | $700.1M |
| CSH | Cash America International, Inc. | $957.3M |
| IXP | iShares S&P Global Telecommunicat. (ETF) | $277.0M |
| WINA | Winmark Corporation | $115.1M |
| MRF | American Income Fund, Inc. | $67.2M |
| KIE | SPDR KBW Insurance (ETF) | $193.1M |
| IAI | iShares Dow Jones US Brok-Dea Ind (ETF) | $219.1M |
| FEZ | SPDR DJ Euro STOXX 50 (ETF) | $169.3M |
| IEF | iShares Barclays 7-10 Yr Treas. Bd (ETF) | $2.6B |
| CBAK | China BAK Battery Inc. | $166.1M |
| JKH | iShares Morningstar Mid Growth Idx (ETF) | $149.8M |
| DOM | Dominion Resources Black Warrior Trust | $126.5M |
| GIM | Templeton Global Income Fund | $1.3B |
| IWN | iShares Russell 2000 Value Index (ETF) | $3.1B |
| FEU | SPDR DJ STOXX 50 (ETF) | $69.2M |
| NMI | Nuveen Municipal Income Fund Inc. | $86.8M |
| ARCC | Ares Capital Corporation | $1.3B |
| NCA | Nuveen California Municipal Value Fund | $229.8M |
| IWD | iShares Russell 1000 Value Index (ETF) | $8.5B |
| EWZ | iShares MSCI Brazil Index (ETF) | $11.5B |
| VBK | Vanguard Small-Cap Growth (ETF) | $1.2B |
| VAW | Vanguard Materials (ETF) | $311.1M |
| PXJ | PowerShares Dynamic Oil & Gas Serv (ETF) | $206.5M |
| IVE | iShares S&P 500 Value Index (ETF) | $3.6B |
| JKG | iShares Morningstar Mid Core Index (ETF) | $105.9M |
| AGG | iShares Barclays Aggregate Bond Fd (ETF) | $10.1B |
| MXB | MSCI Inc. | $3.2B |
| XLG | Rydex Russell Top 50 (ETF) | $339.9M |
| EPP | iShares MSCI Pacific ex-Japan Idx (ETF) | $3.6B |
| PWB | PowerShares Dynamic Lg.Cap Growth (ETF) | $342.2M |
| GLAD | Gladstone Capital Corporation | $168.1M |
| TEI | Templeton Emerging Markets Income Fund | $688.6M |
| MER PR F | Merrill Lynch Preferred Capital Trust V | $21.3M |
| PXI | PowerShares Dynamic Energy Sector (ETF) | $34.2M |
Posted on November 17th, 2009 by vbierschwale
Filed under: The Stock Market
You are a fucking idiot. Why don’t you go back to Caly you nigger.
[...] So if that’s the case, perhaps some of you proponents of ETF’s would care to clarify exactly how a person can own for instance INTC if the ETF is a derivative of INTC and not the real thing? …Read More… [...]