You bought 100 shares of TBT at $45 on 09/25/2009.
ProShares UltraShort 20+ Year Treasury NYSE:TBT
TBT seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Barclays Capital 20+ Year U.S. Treasury index.
TBT benefits when treasuries decline. Treasury 10-year notes posted their first loss since the start of August as reports showed the economy is recovering from its worst slump in seven decades and the U.S. prepared to sell $112 billion of notes. Today I am picking up 1/4 of my TBS investment goal.
In a recent article in CNBC.com, Julian Roberson of Tiger management, claims that the US may face ‘Armageddon’ if China and Japan don’t by Debt. Robertson said while he doesn’t think the Chinese will stop buying US bonds, the Japanese may eventually be forced to sell some of their long-term bonds.
“That’s much worse than not buying,” he said. “The other thing is, they’re buying almost exclusively short-term debt. And that’s what we are offering, because we can’t sell the long-term debt.
The EFT fund, TBT normally invests at least 80% of assets to investments that, in combination, have economic characteristics that are inverse to those of the index. It also typically invests in taking positions in financial instruments, including derivatives that should have similar daily return characteristics as twice the inverse of the index. The fund is nondiversified.