Barclays New Leveraged ETNs vs. the Competition: Different Strokes for Different Time Frames

Original Article from Seeking Alpha Editor’s Pick

IndexUniverse submits:

By Matt Hougan

Dave Nadig is asking the wrong questions about the new Barclays ETNs.

In his recent feature article, he bemoans the overwhelming complexity of the new products. His opinion seems to be: “Neat idea, but too complex for most people to understand."

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Barclays Launches No-Reset Leveraged ETNs (with Confusing Names)

Original Article from Seeking Alpha Editor’s Pick

Ron Rowland submits:

Be careful what you wish for. For all the leveraged fund critics that either do not like or do not understand daily (or monthly) reset of leverage and want a vehicle without path-dependent performance, your wish has come true. However, unless you bought them yesterday, you will not be getting the exact 2x or 3x index exposure you desire. You can’t have everything.

Five new ETNs (exchange-traded notes), dubbed ETN+, from Barclays began trading yesterday (11/18/2009). When Barclays sold their iShares business, it appears that all their marketing and product naming people were also part of the deal. Here are the official names, but they won’t give you any clue as to the leverage employed:

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Barclays offers $72m bonus

LONDON – BARCLAYS Plc is attempting to recruit five JP Morgan investment bankers with a bonus package worth a total of 30 million pounds (S$71.5 million), The Sunday Telegraph reported without citing sources.

It said the deal is one of the most generous since the financial crisis prompted the British government to provide billions of pounds of taxpayer support to prop up the banking system and follows widespread criticism of City bonuses by politicians.

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Barclays taps RBS’ Ferraroni

BARCLAYS Capital, the investment banking arm of Barclays PLC , has appointed former Royal Bank of Scotland banker Ivan Ferraroni as the head of Asia Pacific foreign exchange bank sales.

‘Ivan will be responsible for the delivery of the full suite of foreign exchange flow and derivative products to bank clients in the Asia Pacific region,’ the bank said in a statement.

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Jeffery joins Barclays’ board

LONDON – BARCLAYS PLC said on Thursday that former US government official Reuben Jeffery III has been appointed a non-executive director.
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Barclays unit sold to BlackRock

LONDON – BARCLAYS’ sale of its investment arm to US asset manager BlackRock for US$13.5 billion (S$19.6 billion) marks the British bank’s latest bid to shore up its finances without government help.
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BlackRock to buy Barclays arm

LOS ANGELES – AFTER weeks of speculation, US investment manager BlackRock Inc said on Thursday it will purchase the asset management arm of British investment bank Barclays PLC, including its iShares division, for US$13.5 billion (S$19.56 billion) in cash and stock.

Barclays Global Investors is the world’s largest asset manager with more than 3,000 institutional clients and approximately US$1.5 trillion of assets under management as of Dec 31.
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Barclays sells asset arm

LONDON- BRITISH bank Barclays is close to selling its asset management arm to US money manager BlackRock in a deal worth US$13 billion (S$18.9 billion), media reported on Sunday.
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Barclays mulls $15b fund sale

LONDON – BARCLAYS Plc is in talks to sell its asset management arm, Barclays Global Investors (BGI), for about US$10 billion (US$14.6 billion) to potential bidders including US money manager BlackRock , the Financial Times reported in its Friday edition.

Citing people familiar with the matter, the paper said buying BGI would give BlackRock a big boost in exchange-traded funds, which are a speciality of BGI’s iShares unit.
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Cramer’s Lightning Round -Barclays Is Scary (2/20/09)

Stocks discussed on the lightning round session of Jim Cramer’s Mad Money TV Program, Friday February 20.

Bullish Calls:

VNUS Medical (VNUS): “Another great speculation…this one has had a big run, but I endorse it.”
GMX Resources (GMXR): “We like that…the breakup value there is substantially more than the selling point. I think oil and gas have bottomed. I like BP for that bountiful yield.”
Dominion Resources (D): “It is okay…I like it here…it is a good company…it is too darn cheap.”
Merck (MRK), Bristol Myers (BMY), Abbott Labs (ABT): “Not my favorite pharma…it’s okay. I prefer Bristol Myers and Abbott Labs which did a huge dividend raise.”

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