cut the wool off (a sheep or other animal).
break off or cause to break off, owing to a structural strain.
"the derailleur sheared and jammed in the rear wheel"
a strain in the structure of a substance produced by pressure, when its layers are laterally shifted in relation to each other.
The problem with NUGT and JNUG is you are not investing in physical gold. What you're buying is options and derivatives on gold mining shares. All options and derivatives expire worthless at the end of their contracts. The ETF manager just keeps rolling them over and decay is an ongoing process. NUGT has lost nearly all of its value from four plus years ago. Look for a 1:10 reverse split very soon then it will start the shrinking process all over again.
NUGT is almost certain to do a 1:10 reverse split soon. Reverse splits tend to lead to more losses. JNUG did a 1:10 reverse last December and has lost over 76% of its value since then. NUGT has had two previous reverse splits, one was 1:10 followed by a 1:5. So, anyone who had 1,000 shares before the splits now has 20 shares which are soon to become 2 shares. That means they've lost 98% of their position in less than five years. What's really sad is most investors have no idea what they're buying when they invest in these triple leveraged ETF's. All they are is a basket of highly leveraged options and derivatives. If gold goes down the ETF gets crushed. If gold moves sideways or even up modestly the decay of the derivatives quickly eats away at equity. Ultimately, these things have to go to zero and that's exactly what happened.
If your message is true I am sorry for your loss.
"A group of senior creditors to National Bank of Greece SA said they’ll consider recapitalizing the troubled lender to avoid incurring losses on their bonds." See YahooFinance news.
I didn't realize that Mr. Potter is German.
It's amazing how convinced the NBG bulls are of their views and position. It seems they all "know" what's going to happen next in Greece and with NBG. In the meantime, Mr. Market isn't drinking the Kool-Aid. The market is marking NBG down. We can't know what the market knows the rest of do not but as a guess NBG will be recapitalized with bond holders taking a serious haircut and common shareholders taking a far more serious haircut if not wiped out . Anyway, the debates are fun to read but the only opinion that really matters is what Mr. Market has to say.
This week everybody knows a deal is done. Germany is not talking. Stay tuned.
This is for you, Mucho, hahahahahahahaha..... :-)
Everybody just wants the Greek drama to end but one of the requirements the Greeks are agreeing to is 2010 pension reforms. Unless I'm mistaking, 2010 was five years ago. Why would anyone trust the Greeks to implement any of the agreed to reforms. This is just good money after bad. BTW, only 10% of Germans agree Greece should get more loans. Suspect this drama hasn't reached its final act. Maybe it never will.
Interesting perspective. If I was structuring the deal I would release funds to Greece in installments or tranches based on achieving milestones. Greece still hasn't implemented 2010 pension reforms but promises to do so now! No way you can trust Greek government to implement necessary reforms. Good money after bad.
DB's exposure to Greece is minimal relative to the the banks size. Exposure fully disclosed in 10Q. The real story is the new CEO. Cryan apparently serious about getting things done, improving relations with regulators. Very much like Citi's CEO. It will take a couple of years to turn DB around but expect the stock to at least double in that time frame.