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An ETF for the apocalyptic set in banking

Posted by: Aaron Pressman on November 26

In today’s ugly market, it was the financial sector again leading the charge down. Investment adviser Ryan Freund has a pretty grim view of what’s still to come in the unfolding subprime lending fiasco. So what’s a poor investor to do? Freund favors the ProShares Ultra Short Financials Fund (Symbol: SKF). The fund, which tracks the Dow Jones U.S. Financials Index, moves twice as much in the opposite direction of the index each day. The index is chock full of the murderer’s row of subprime and leveraged loans losers, led by Citigroup (C).

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Businessweek’s Lauren Young, Aaron Pressman, Emily Thornton, Amy Feldman, Ben Levisohn, and Ben Steverman focus on matters great and small for investors, from the views of a hot fund manager to an explanation of the latest products devised by Wall Street’s rocket scientists. Exploring trends in any area, from bonds and stocks to closed-end funds and futures, always with an eye towards giving investors a better understanding of the sometimes confusing and often chaotic world of finance. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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