Really great breakdown on the cash burn/creation of leveraged ETFs from @JSeyff. In short, index leveraged long ETFs (eg TQQQ, SOXL) have been like a degen ATM Machine, generating them $26b in gains this year and $138b lifetime and that's incl the big, nasty pullback this month. On flip most everything else has been a burned cash, albeit not enough to overwhelm the net net number which is curr at +$58b.
Eric BalchunasShare
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