VelocityShares Long LIBOR Exchange-Traded Notes and VelocityShares Short LIBOR ETNs track an index designed to mimic changes in the U.S. dollar-denominated London interbank offered rate (Libor).
As a value investor, GAMCO Co-Chief Investment Officer Chris Marangi puts more emphasis on the quality of a company's management and culture. And he sees a future for active management in a choppy or bear market.
The idea that asset management is a mindless endeavor devoid of skill, art or judgement is a harmful one. Even cheap, automated strategies have varied outcomes. The humans behind the machines still matter.