When I quote that "I hold XIV", please assume I am either holding SVXY (as I am right now or the Canadian version HVI.to - they are both ETF's - much less risk since they 'are not" an obligation to hold unsecured debt. They hold the 'real thing'. Real assets, so in the unlucky scenario that they go under, at least I will get my money back + the return that I made. As for holding an ETN, which too many people hold on IHUB, you will get screwed and end up owning 'nothing'.
The 'old guys' on SI for example 'get it'. They don't buy ETN's, they don't have too, as there is a ETF equivalent for any ETN.
I'm going to say this again & again, please do not hold an ETN (especially an inverse one) you will most certainly get screwed. Just don't do it. It ain't worth the risk.
Think of it this way, the reason that I hold an inverse product (such as UVXY is to make money on the downturn, when the financial system is at extreme risk. If the instrument that you are holding is a debt obligation such as a Banks promises to pay you .... what happens if that very bank goes under? The promises to pay you become a lie and they will never, ever pay you... so why take the risk? It is just not worth it.
It is not worth it.
The 'old guys' on SI and me (I ain't old lol) have learned a thing or two since 1996 - the Asian crisis, the Russian default (1998), the Argentine debt bomb, the tech implosion (2001), the bank implosion (2008), etc, etc, etc.
Now we're looking in the review mirror, and what do we see? More of the same, another Russian default (2015), another South American default (Argentina again lol), this time Greece, and who knows who else.
Unlike the 90's, and the 2000's, the world this time is awash in deflationary pressures.
So HOLD GOLD/Silver/hard assets & be nimble playing long/inverse ETF's cause that's were I think some people will make a fortune.
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