Latest from commodities guru Jim Rogers

dunker1

Apologies, maybe i over egged by saying going under, but people have to get away from that thinking now of institutions not being allowed to go bust, we are in unprecedented times . Some investors will have sections of their portfolios completely wiped out, painful to hear but true nonetheless.

jon3001

Sorry to say but it does seem that ETF Securities might be having some problems right now.

http://www.citywire.co.uk/adviser/-/news/market-and-shares/content.aspx?ID=314454&Page=1

AIG-backed ETF Securities products plummet
By Daniel Grote | 13:11:16 | 16 September 2008
Shares in AIG-backed exchange traded commodities issued by ETF Securities (ETFS) have plummeted after the US insurer was hit by a rash of fresh ratings downgrades yesterday.

I tried getting a dealing quote on my FAIG holdings on my IWeb account. Unfortunately I was confronted by this:

Your order cannot be executed automatically at this time for one of the following reasons:

• The size of the trade is greater than the size currently supported by our Market Counterparties for automated trading.
• The stock may not be traded automatically by our Market Counterparties at this time.
• More than one instruction has already been placed on your account for this stock.

Negotiated Trade
By selecting this option below, your order will be sent directly to our Dealing Team who will contact appropriate Market Counterparties, as soon as practically possible. Your trade will be dealt at the best price available in the market at that time, with reference to the size of the order. Orders are dealt in fair and due turn.
Limit Orders
Alternatively, you may wish to set a limit price to protect yourself from variances in price. To proceed with this option, select the 'Set TradePlan' button below and select the 'Limit Order' option.

cheerfulcat

wombat42 wrote: »

Cant find any links supporting this possibility. I dont think ETF would be allowed to go bust as the financial market would go into a complete frenzy.

Here -

" ETFS says it is working on providing investors with liquidity after a number of firms stopped making markets in its AIG-backed Commodity Securities products as the US insurer’s credit rating slipped. "

dunker1

Yup, anyone holding AIG backed commodity exchange traded funds is really hoping that a bail out happens there, not possible to trade them now. If it doesnt happen then these etfs are not wirth a single penny.

jon3001

dunker1 wrote: »

Yup, anyone holding AIG backed commodity exchange traded funds is really hoping that a bail out happens there, not possible to trade them now. If it doesnt happen then these etfs are not wirth a single penny.

FAIG seems to be trading again now albeit currently at a 10% spread.

There's a further announcement from ETF Securities:
http://www.etfsecurities.com/en/news/etfs_news_080922.asp

wombat42_2

jon3001 wrote: »

FAIG seems to be trading again now albeit currently at a 10% spread.

There's a further announcement from ETF Securities:
http://www.etfsecurities.com/en/news/etfs_news_080922.asp

I was in AGAP for a while earlier this year - it is currently suspended i notice. I guess normal service will be resumed soon.