Ron Rowland is the founder and president of Capital Cities Asset Management, a fee-based registered investment adviser in Austin, Texas. He is also the founder and publisher of Invest With An Edge and All Star Investor, where he has been providing market commentary and active investment advice since 1991.
Shareholders of the Alerian MLP ETF appear to be oblivious the fund employs a 62.5% daily leverage factor, thereby giving shareholders a 37.5% daily haircut.
For the second time in as many weeks, Vanguard has launched ETFs aimed at its largest rivals.
Analysts should know Vanguard knows how to play "me too" better than anyone.
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