What can go wrong? With exchange-traded funds and notes, particularly leveraged ones, the mechanics aren’t as straightforward as they seem. Yet there is little excuse for not knowing what you are getting your clients into.

Adjusting a portfolio’s beta creates value—either positive or negative—on top of any produced by the managers’ stock-picking skills.

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Below is an email I received from Morningstar. So, let's see. The stock market has climbed back to its 2007 highs last week and yet investors, retail investors, continue to yank money out of stock funds. Amazing...

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PIMCO’s Total Return ETF has proven the skeptics wrong and outperformed the flagship fund that shares its strategy.