Any George Noble NOPE fans?

This ETF is pretty wild. 250% notional exposure, -75%(!) short Tesla, short bitcoin, short treasuries, short a bunch of other individual stocks, long USD.

This thing has only been trading for a month and is already down -16%. I think this thing crashes and burns but would love to hear other options. Im not saying that the above trends cant extend, but certainly, A LOT of the moves have already happened right?

Also, WTF is with the risk management on this thing? If you look at the positions, its kinda all the same (or at least similar) trades, again with 250% notional exposure. Is this ETF saying "NOPE" to risk management?

Would love to hear some other/opposing thoughts. Maybe this ETF deserves a small allocation as a tail risk type strategy, I dunno.

 

Someone with a performance of -16% in one month I would never invest. There are many other better options.

 

USD has topped...

 

It trades more than it's net assets every day, so it seems risky.

 

Expense Ratio of nearly 2% is a rip off. Never invest in such expensive ETF.

 

how about some of the bitcoin/hype permabears out there? Any interest in something like this? @Pekelo @RedDuke @angrytrader

 

https://seekingalpha.com/article/4549435-nope-to-nope

 

I think this is a

I think this is a smart take. No matter if you agree with the thesis (positions), this size is wild and almost guarantees a blow up at some point.

 

Haven't look at it but sounds about right and if we know, the big boys know and prolly smell blood.

 

Finally an up day for this dog. Its up 22% since yesterday morning. Even better than SQQQ.