Normal
No, aside from retail bidding it up above NAV, it doesn't stop correlating to the underlying, because the underlying is WTI futs.People think it stops correlating because they didn't do any due diligence at all and just saw some chart on the evening news saying oil was down and think they can pull a Rockefeller using SelfWealth or something? They never looked at the chart compared to cash WTI to see it is nearly always getting eaten by contango, they never looked at the PDS, they never even looked at the iNAV.
No, aside from retail bidding it up above NAV, it doesn't stop correlating to the underlying, because the underlying is WTI futs.
People think it stops correlating because they didn't do any due diligence at all and just saw some chart on the evening news saying oil was down and think they can pull a Rockefeller using SelfWealth or something? They never looked at the chart compared to cash WTI to see it is nearly always getting eaten by contango, they never looked at the PDS, they never even looked at the iNAV.
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