tag:blogger.com,1999:blog-5389144729834496735.post1918155450080426405..comments2024-03-17T05:15:55.634-04:00Comments on The Brooklyn Investor: WisdomTree Investments (WETF)Unknownnoreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5389144729834496735.post-10288814269287993862013-11-26T07:21:53.160-05:002013-11-26T07:21:53.160-05:00Hi,
Yeah, wow. Look at that! The big one I thi...Hi, <br /><br />Yeah, wow. Look at that! The big one I think was the currency hedge Japan index. Who knew, right? That was a huge winner for them. <br /><br />As far as valuation, I don't know. I don't like it as it is expensive but I wouldn't short it either. The problem with these smallish names in a 'hot' industry is that you never know when someone will step in and pay a ridiculous price to take them out. Competition is intense in the asset management industry, and I think especially in these passive sort of ETF names. <br /><br />So I would be careful with it. <br /><br />Thanks for reading. kkhttps://www.blogger.com/profile/06299974418283948333noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-52949574426846397172013-11-25T22:47:17.627-05:002013-11-25T22:47:17.627-05:00hey, i'm a reader from singapore (just wanna h...hey, i'm a reader from singapore (just wanna highlight how popular ur blog is that it even reaches out to us in asia here =) haha.)<br /><br />been going through your posts in the past few weeks and just checked on WETF share price now. (it's crazy. but i guess you're pretty spot on in terms of the 30% margins and how its aum went to 31 billion as of sep 30th, value-fundamentals weighted index concept is rly great).<br /><br />anw what do you feel about the overpriced situation now (considering that the share price rose further up to 14~ish and multiples rose up to 40+/50 times multiples).kai xianghttps://www.blogger.com/profile/12094183407470192203noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-11521630099737104352013-03-19T00:28:33.717-04:002013-03-19T00:28:33.717-04:00This is an informative post review. I am so please...This is an informative post review. I am so pleased to get this post article and nice information. I was looking forward to get such a post which is very helpful to us. A big thank for posting this article in this website. Keep it up.<br /><a href="http://www.devere-group.com/qrops/qrops-hmrc.aspx/" rel="nofollow"> international financial investment</a><br /><br />Anonymoushttps://www.blogger.com/profile/08259021713828020226noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-79153473620162592482013-02-25T04:46:22.868-05:002013-02-25T04:46:22.868-05:00Therefore glad I found your website searching for ...Therefore glad I found your website searching for shoes.<br />This is great information at any given time when the internet is full<br />of falsehoods. Keep up the task in "Link to another good article from Allen Wright" and that i can<br />come back often.<br /><a href="http://www.devere-group.com/qrops/qrops-hmrc.aspx/" rel="nofollow"> international financial investment</a><br />Anonymoushttps://www.blogger.com/profile/18420460394900419728noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-54173047728735355562013-02-20T00:46:44.813-05:002013-02-20T00:46:44.813-05:00I am very enjoyed for this blog. I feel strongly a...I am very enjoyed for this blog. I feel strongly about it and love very important information. If possible, as you gain expertise, would you mind updating your blog with more information? It is extremely helpful for me.<br /><a href="http://www.devere-group.com/qrops/qrops-hmrc.aspx/" rel="nofollow"> international financial investment</a><br /><br />Anonymoushttps://www.blogger.com/profile/12032261474624510940noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-13030295801421735582012-10-28T21:01:45.731-04:002012-10-28T21:01:45.731-04:00It is good to know that there are a lot of sofewar...It is good to know that there are a lot of sofewares today that could actualy help us in the business. <br /><a href="http://www.privatewyomingllc.com/" rel="nofollow">llc</a><br /><br />Anonymoushttps://www.blogger.com/profile/14001713324253418834noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-55374397410041840992012-10-02T17:08:01.104-04:002012-10-02T17:08:01.104-04:00Hi, Thanks for the comments.
Yes, now I see the...Hi, Thanks for the comments. <br /><br />Yes, now I see the AUM on the website; I missed that. Duh... <br /><br />As for Blackrock, yes, I must have used (or seen an analysis) using iShares AUM when in fact the acquisition was for all of BGI which includes iShares and others. But anyway, I am not a big fan of % of AUM in general. <br /><br />And yes, either way, you have to be really bullish on AUM growth for WETF to make sense. <br /><br />As for AUM to reach scale, I agree. PZN also has 50% margins at $15 billion. But I have to say that I don't really know what kind of extra costs are associated with index management, ETF etc... which may be a little more than just plain old portfolio management. It does seem like it would take more administrative cost (particularly with so many funds). <br />kkhttps://www.blogger.com/profile/06299974418283948333noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-29462705161457916342012-10-02T15:16:25.548-04:002012-10-02T15:16:25.548-04:00Couple of comments:
1. WETF published their AUM da...Couple of comments:<br />1. WETF published their AUM daily on their web site.<br />2. I have a totally different valuation on the Blackrock deal. You have 4.5% of AUM I have 0.8% due to AUM being $1.8 trillion at the time. Huge difference.<br />3. I think you are spot on in your valuation of WETF. It is ridiculously priced and has been for years. Look at this way. WETF has 6% operating margins at $15 billion in AUM. To average 40% at $40 billion means operating margins on the next $25 billion would need to be about 67%. Seriously doubt that. What is strange is that smaller asset managers have no trouble reaching scale at much smaller AUMs (DHIL, EPHC, WHG, HNNA, TETAA).<br /> Tim Eriksenhttp://www.eriksencapital.comnoreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-946979028161886522012-10-01T15:29:06.266-04:002012-10-01T15:29:06.266-04:00I'm no big fan of Jeremy Siegel, but he does d...I'm no big fan of Jeremy Siegel, but he does deserve credit for seeing the internet bubble. <br />See his article "Big-Cap Tech Stocks Are a Sucker Bet" published in the WSJ in late 99 or early 2000. I believe it was very contrarian at the time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-72483582153021963962012-09-27T20:33:30.746-04:002012-09-27T20:33:30.746-04:00Hi, I don't know. I just don't recall pat...Hi, I don't know. I just don't recall patents on things like this in the financial world, but I'm not a lawyer so I don't really know. Proprietary trading systems, for example, I think are hard to enforce but if you steal the code like that programmer did from GS, then I can see how you can have a criminal case. But for a method of index calculation? That sounds like a stretch to me... But again, this is just a casual observation, not a real lawyer's opinion. kkhttps://www.blogger.com/profile/06299974418283948333noreply@blogger.comtag:blogger.com,1999:blog-5389144729834496735.post-71505008477276516842012-09-27T18:18:23.529-04:002012-09-27T18:18:23.529-04:00About the litigation: usually if someone creates a...About the litigation: usually if someone creates a new product they need to create a market with liquidity. So there isn't an incentive to try to patent financial innovations. So maybe it is enforcable?Alpha Vulturehttp://alphavulture.comnoreply@blogger.com