, Columnist
The Problem With the Oil ETF: It Does a Great Job
It's a trader's best friend and an investor's worst enemy.
Hard at work.
Photographer: David McNew/Getty ImagesThis article is for subscribers only.
The sudden sell-off in oil on Tuesday has added insult to injury to many investors in the United States Oil Fund (USO).
“Injury” is actually the perfect metaphor, because exchange-traded funds like USO are a lot like power tools. In the hands of a pro, they can be a huge help. Used by a novice, they’re a disaster waiting to happen.