Checking In With NASH

It was almost a year ago that the country’s first “city-centric” investment fund, an ETF comprised entirely of Nashville-based companies, made its debut. At the time I called it “the stupidest investment idea ever” and also noted that,

You know your investment idea sucks when Arthur Laffer “loves” the idea…

.. and also:

I know I’m just a dumb housewife, not an investment genius like the bigwigs behind this idea, but what is the magic of having companies from diverse business sectors all lumped into one ETF just because they’re based out of Nashville? What does Dollar General have to do with HCA? The fund’s founders say:

The partners say Nashville’s position as an “it” city for business makes it an ideal candidate to launch the unique ETF.

This made no sense to me whatsoever, and it still doesn’t. It struck me as nothing more than a civic marketing campaign involving some local hotshots with too much extra money lying in their overstuffed sofa cushions which they didn’t mind throwing away. That’s fine if you can afford it, but there are some investment-ignorant people out there who actually buy this horseshit who probably can’t afford to lose their retirement money on what is basically a marketing ploy by the local Chamber of Commerce.

But what do I know. So, was the NASH ETF really a lousy idea? Let’s take a look-see:

NASH

NASH opened at $25 per share. Today it’s at $27.88. Its range: $23.75-$28 a share. YTD Return: a whopping 1.10% (inflation rate for May 2014 was 2.13%). Meanwhile, the markets as a whole have been booming. For example:

The NASDAQ composite is up 6.80%:

NASDAQ

The S&P 500 is up nearly 7%:

S&P500

While even the Dow has been up 2,56%:

DOW

Again, I’m no genius about this stuff, maybe I’m missing something, but it still seems like this was a stupid idea and Arthur Laffer is still an economic dunce.

5 Comments

Filed under Nashville, Tennessee, Wall Street

5 responses to “Checking In With NASH

  1. What was Laffer’s consultshill fee?

  2. Those graphs, btw, are way cool. Do you suppose that Laffer and his fellow grifters like to use them a lot, too? In their case they know that they could put graphs that have nothing to do with what they’re selling in front of the sheeple and, as long as they all trend up, the sheeple won’t trouble themselves to actually read them.

    Are there purely Christian investment vehicles. You know, Chock-Fulla-A-Holes, Hobby Labia, er, I mean Lobby and the like all lumped into one SUPERJESUSY investment fund?

    • There are Christian investment vehicles. Depending on the flavor of Christian you are, you can invest in funds that support Catholic values (no abortion, pornography or Planned Parenthood-related co’s) and there’s a Presbyterian-values fund: “The church takes a strong moral position against companies that are involved with gambling, alcohol, or firearm sales. We think we screen out about 500 stocks. We think that we can still put up competitive returns, beating the indexes, even as we screen out certain companies.”

      This comes up at every GA. In the past they’ve also voted to not invest in co’s involved in building settlements in Palestinian land (sorry, Caterpillar) and this year they wanted a vote to divest from fossil fuel companies contributing to climate change. THAT did not pass, sadly.