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Hedge fund manager and New York Mets baseball team owner Steven Cohen has already begun to invest in a four-day work week. Cohen isn't alone in forecasting a four-day work week. Jefferies thinks artificial intelligence will make workers more efficient and eventually lead to a four-day work week becoming the norm, according to a note from June 2023. Bank of America also expects the changing post-pandemic work landscape may result in a shorter work week. Opposition to change Opponents to a shorter work week, however, argue that such a change is both politically and economically unfeasible.
Persons: Steven Cohen, " Cohen, Cohen isn't, Jefferies, Henry Ford, Ford, Christian Magoon, Cohen, Magoon, It's, David Bahnsen, Bahnsen, I'm Organizations: New York Mets, CNBC, Bank of America, Economic, COVID, Cloud Technology ETF, IVES, Ionos, Broadcom, Cisco Systems, General Dynamics Locations: France, U.S, Nice
The SEC has long rejected spot bitcoin ETF applications on the grounds they do meet its investor protection requirements. Industry hopes that position would shift surged in June when BlackRock (BLK.N), which has an almost unbroken record of SEC ETF approvals, filed for a spot bitcoin ETF. The only prospective issuer to disclose proposed investor fees so far is Ark Investment, which last week announced its spot bitcoin ETF would charge a fee of 0.8%. To be sure, issuers hoping to launch spot bitcoin ETFs have a more bullish outlook than those sticking to the sidelines. Magoon hopes the buzz surrounding a spot bitcoin ETF will draw more assets to Amplify's BLOK ETF.
Persons: Marco Bello, it's, Dave Mazza, Gary Gensler, Michael Sapir, ProShares, Sapir, Roxanna Islam, Aisha Hunt, Kelley, Christian Magoon, Roundhill, Mazza, Magoon, Tom Staudt, Staudt, Suzanne McGee, Michelle Price, Deepa Babington Organizations: REUTERS, Roundhill Investments, SEC, Industry, BlackRock, Ark Investment, Amplify's, Ark Investments, Thomson Locations: Miami Beach , Florida, U.S, BlackRock, Invesco, Amplify's BLOK
"We've seen most cannabis ETFs rally over 30% since the news broke last week on this recommendation," Amplify ETFs CEO Christian Magoon told CNBC's Courtney Reagan on "ETF Edge" on Wednesday. The Roundhill Cannabis ETF (WEED) has soared nearly 71% since the announcement, while the AdvisorShares Pure US Cannabis ETF (MSOS ) and AdvisorShares Pure Cannabis ETF (YOLO) have jumped 64% and 45%, respectively. "Consumer packaged goods and pharmaceutical companies are going to be able to now look at these cannabis companies as M&A targets to partner with them." "The great thing about the ETF industry is there's a lot of opportunity," Lydon said in the same interview on Wednesday. Lydon pointed out that Amplify ETFs holds a great "first mover advantage" with its pair of cannabis-based funds.
Persons: Christian Magoon, CNBC's Courtney Reagan, Magoon, marijuana's, Tom Lydon, Lydon Organizations: Cannabis ETF, U.S . Department of Health, Human Services, HHS, DEA, Cannabis, VettaFi Locations: YOLO
ETF Edge: September swoon ahead?
  + stars: | 2023-09-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: September swoon ahead? CNBC’s Courtney Reagan on 'ETF Edge' with Vettafi's Tom Lydon and Amplify ETFs' Christian Magoon, discuss the September setup for ETFs.
Persons: CNBC’s Courtney Reagan, Vettafi's Tom Lydon, Magoon
The startup used this pitch deck to get backing from top healthcare VC firm General Catalyst. The Magoons' new startup, Adonis, raised $5.6 million in seed funding in October to solve that problem with tech. Just under seven months later, Adonis has raised $17.3 million more in Series A funding, led by top healthcare VC firm General Catalyst. "Given all the work we do with health systems, we know how complicated and poorly organized these systems are, despite all the money they're collecting," she said. Check out the pitch deck Adonis used to get $17.3 million led by General Catalyst.
International income One area where investors may look next for income is the international market, which has outperformed the U.S. in the opening weeks of 2023. Both Amplify and Schwab offer international versions of their yield funds — Amplify International Enhanced Dividend Income ETF (IDVO) and Schwab International Dividend Equity ETF (SCHY). Fixed income funds Another area that could pay off for investors is fixed income. "This is a once in many, many year opportunity to de-risk, rebalance, get back into fixed income," said Stephen Laipply, US Head of iShares Fixed Income ETFs. The fixed income ETF market is much smaller than the equity ETF market, and 2023 could see a continued growth in new categories.
Subsidies from the U.S. government and investments from companies including General Motors in battery technology should benefit the mining companies, according to John Ciampaglia, CEO of Sprott Asset Management. "We talk to people all around the world, and there's a very consistent and global theme that's building around energy transition. Sprott's funds, including the Sprott Energy Transition Materials ETF (SETM) , are focused on mining stocks. Other funds on the market take a broader approach by bundling together mining stocks and battery manufacturers or technology companies, including Global X's Lithium and Battery Tech ETF (LIT) . The Amplify Lithium and Battery Technology ETF (BATT) goes even farther, incorporating electric vehicle stocks such as Tesla in its portfolio.
It was the year the industry (and other stakeholders) figured out how to make electric cars actually work. Here's a look at what made 2022 so important for the EV space — and why 2023 and beyond will likely be even more significant. Momentum this year showed the EV space just what it needed in terms of charging. But in 2022, EVs accounted for 5% of US new-car sales — what some called a tipping point. But the legacy auto companies weren't exempt from some of these challenges, and some of those problems trickled down to customers.
The three-month-old fund is an actively managed strategy that combines dividend-paying international equity holdings with covered call writing, an income strategy used frequently by fund sub-advisor Capital Wealth Planning. And international funds are also gaining traction. He added that the fund managers may actually be a bit more aggressive in writing calls in the international fund than in the U.S. version. "It's not unusual for international stocks to suspend or reduce their dividends more frequently than U.S. stocks do," Magoon said. Since its launch in September, the Amplify International Enhanced Dividend Income ETF has a total return of about 7%.
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