Davis Selected Advisers enters the ETF market
<i>Breakfast with Benjamin</i> Davis Selected Advisers wants to launch three actively managed ETFs.
- Davis Selected Advisers is the newest entrant into the exchange-traded fund market. The fund company, best known for Davis New York Venture (NYVTX), a stock fund languishing in the 87th percentile among its peers the past decade, has filed with the Securities and Exchange Commission for permission to roll out Davis Focused US Equity ETF (DAVS), Davis Select Financial ETF (DSFE) and Davis Select World Opportunities ETF (DSWO).
- Crude oil prices — West Texas Intermediate, that is — are up year to date. While that's good for energy funds, up more than 18% this year, it's also good news for those taking Social Security and those owning Treasury Inflation Protected Securities. Both are dependent on the headline consumer price index, which includes the volatile energy sector.
- How did Ronald Reagan end the 1981 recession? Tax cuts, sure. Then again, there was his massive dose of federal spending.
- Thanks, Judge Forrest! Citigroup sued AT&T last summer over its use of the phrase “thanks” in its customer loyalty program, claiming trademark infringement and demanding “a halt to any infringements, triple and punitive damages and other remedies.” U.S. District Judge Katherine Forrest refused to block AT&T from using “AT&T thanks” for its customer loyalty program after Citigroup sued to stop it.