3 ms·
This is a terrible deal. A 2% annual fee is a hedge-fund-esque fee. For 2% I'd expect an actively managed fund that gets in on ICO presales, carefully vets team
by argonaut 9y ago
This is a terrible deal. A 2% annual fee is a hedge-fund-esque fee. For 2% I'd expect an actively managed fund that gets in on ICO presales, carefully vets teams/technologies behind new coins and gets in early, has a strategy for hedging risk, etc. etc.
Instead you get a passively managed fund with FOUR assets that are all tightly correlated with each other (they all crash at the same time), that is only rebalanced once a year, and offers no tax benefits. Tax loss harvesting, for example, is not possible - there are only 4 assets to choose from!
You could replicate this yourself in a few minutes, and you wouldn't need a script.
- dmichulke 9y agoJust to elaborate: On a yearly basis the only two coins among the top coins that correlate less with the coins listed in the index are Ripple and Stellar. Source: http://cryptoport.net/blog/diversification-i.html http://cryptoport.net/blog/diversification-i.html (my blog, just scroll down to the correlation matrices) EDIT: "don't correlate closely" -> "correlate less"
- ohashi 9y agoBut it's Coinbase, so many people will get excited to get screwed over.