One of these days in your travels, a guy is going to show you a brand-new deck of cards on which the seal is not yet broken. Then this guy is going to offer to bet you that he can make the jack of spades jump out of this brand-new deck of cards and squirt cider in your ear. But, son, do not accept this bet, because as sure as you stand there, you're going to wind up with an ear full of cider.I was amazed at how much discussion my piece and
-- Sky Masterson in Guys and Dolls
- they are uninformed (and indeed, the Journal of Finance research piece I referenced, which was co-authored by someone at the SEC, showed that reduction in margin requirements leads to increase in uninformed traders),
- they are trying to circumvent the margin rules, or
- they are attempting to manipulate the markets.
Know what you own: Oberg mentions the ProShares Ultra Short funds. Other examples include the ProShares UltraShort QQQ (QID), ProShares UltraShort Oil & Gas (DUG) and the ProShares UltraShort Industrials (SIJ).
The conversation on short ETFs continues on Stockpickr.