Even though FMD’s Fabian is cautious in his advice on ETNs, he sees the draw in volatile times. “When oil is moving 3 or 4 percent a day, you’re able to magnify that,” he said. “The sharper and quicker the better. That’s where the money’s going to be made.”
Over more than four years, UWTI has fallen 99.5 percent, joining oil tracking notes such as the iPath S&P GSCI Crude Oil Total Return Index ETN, which has dropped 76.3 percent, and the United States Oil Fund LP, which has slipped 70.8 percent in the same period.
West Texas Intermediate, the U.S. benchmark crude, entered a bull market on Aug. 18, less than three weeks after it tumbled into a bear market. Prices slid 78 cents to $47.32 a barrel on the New York Mercantile Exchange at 10:32 a.m. London time on Wednesday. WTI has climbed about 28 percent this year.
For Santos, who majored in politics and economics at the University of Toronto, the ETN is not a central part of his portfolio. But it does serve to give him a bit of a rush, he said.
“I’m trying to make it or break it," he said.
Even though FMD’s Fabian is cautious in his advice on ETNs, he sees the draw in volatile times. “When oil is moving 3 or 4 percent a day, you’re able to magnify that,” he said. “The sharper and quicker the better. That’s where the money’s going to be made.”
Over more than four years, UWTI has fallen 99.5 percent, joining oil tracking notes such as the iPath S&P GSCI Crude Oil Total Return Index ETN, which has dropped 76.3 percent, and the United States Oil Fund LP, which has slipped 70.8 percent in the same period.
West Texas Intermediate, the U.S. benchmark crude, entered a bull market on Aug. 18, less than three weeks after it tumbled into a bear market. Prices slid 78 cents to $47.32 a barrel on the New York Mercantile Exchange at 10:32 a.m. London time on Wednesday. WTI has climbed about 28 percent this year.
For Santos, who majored in politics and economics at the University of Toronto, the ETN is not a central part of his portfolio. But it does serve to give him a bit of a rush, he said.
“I’m trying to make it or break it," he said.