Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.
For those comfortable with a short position, Mike Larson looks to ProShares Trust Short Financials (NYSE: SEF) as his top 2009 pick. In Money and Markets, he looks at the inverse ETF.
"ProShares Trust Short Financials is an inverse exchange-traded fund. The ETF is designed to rise in value when the underlying index it references, the Dow Jones U.S. Financials Index, declines.
"As of September 30, the Dow index was weighted 42.5% in banks. General financial firms were the next highest weighting at 23.4%, followed by Real Estate Investment Trusts at 13.4%, non-life insurers at 13.1%, and life insurers at 6.9%.
"The top companies in the index were JPMorgan Chase (8.1%), Bank of America (8.1%), and Wells Fargo (5.9%).
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