? Two out of 500 stocks up? Ouch |
| Online brokers struggled yesterday, but not E*Trade ?
February 27, 2007
Diversification didn't do much for you today
Apropos of my previous entry -- and perhaps equally amazing for fans of diversification -- only 9 out of 289 exchange-traded funds tracked at Yahoo Finance had positive returns today, led by the iShares Lehman 20+ Year Treasury Bond Fund (TLT), up 1.3%, and the CurrencyShares Swiss Franc Trust (FXF), up 1.1%. All of the winners listed by Yahoo were either bond or currency funds. Commodity funds all fell as the scare in China could lead to lower demand from the Asian giant. The iShares GSCI Commodity Indexed Trust (GSG) lost 2.4%, for example. And international funds took it hardest of all. The iShares MSCI Emerging Markets Index fund (EEM) lost 8.1% and its European counterpart (EZU) fell 5.6%.
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