Howard Chan

Founder and CEO @Kurvinvest. Formerly @PIMCO @GoldmanSachs.
Views expressed are my own.

[Howard Chan @HowardFChan]

We have received additional questions about Fidelity fees on Kurv ETFs. The schedule referenced was out of date. This is the most updated list. As mentioned before, there will be no additional fees for Kurv ETFs after June 1, the same as before June 1: https://t.co/U9dxDApsBB

[Kurv Investment Management @kurvinvest]

Higher oil. Sticky inflation. Rising yields. Yet markets keep rallying.

In this episode of Kurv Your Enthusiasm, @HowardFChan and Dominique Tersin discuss AI spending, inflation, U.S.-China policy, real assets, and why #cash matters again. Watch now: https://t.co/F0GdTODqV1

[Howard Chan @HowardFChan]

Finally back home to fixed income! With inflation prints coming in hot two days in a row, this is a part of the portfolio most people don’t think about often. If your cash is yield less than inflation, you are losing slowly purchasing power day by day.

[Kurv Investment Management @kurvinvest]

Cash should be working, not waiting.

Now Trading: Kurv Enhanced Short Maturity ETF $LQID

LQID is designed to seek enhanced monthly income while helping investors stay liquid and manage risk.

Learn more: https://t.co/GLaZf49554

[Howard Chan @HowardFChan]

Is your cash keeping up with inflation? There are ways to not lose purchasing power.

[Kurv Investment Management @kurvinvest]

Tired of cash just sitting around?

Tomorrow, we are launching Kurv Enhanced Short Maturity ETF $LQID to help investors put their cash to work.

Learn more: https://t.co/olHeKr7lw9

[Howard Chan @HowardFChan]

Thank you to Armchair Income for the video on our Metals Enhanced Income Strategy. Watch now: https://t.co/7kKfax4kh1

[Howard Chan @HowardFChan]

Copper exposure is for the future. Even when miners look to meet the demand, there are structural issues to increasing production.

[Amanda van Dyke @AmandaVandyke13]

This is bad for global copper. Grasberg produced 3% of global copper 680k tonnes in 2023. With curtailment of production due to sulphur shortages, this bodes badly for global copper production. JP Morgan and Goldman Sachs are forecasting 3-4% deficit this year. I think it could be closer to 5-6%. Over the last 75years CAGR of production has been 3%, slowing recently because mine supply simply cannot keep up even though demand is likely more than 5% a year. @robert_ivanhoe @jmroberge @SeanZubick @TheOregonGroup @ClemChambers https://t.co/LWyNLZVGm3

[Howard Chan @HowardFChan]

1. 20yr, 30yr Treasury yields touching 5%
2. Oil at $115 per barrel with upward inflation pressure coming in the next months from supply shock
3. Equity markets at all time high

One of the three does not compute.

Evaluating hedges and taking some profit.

[Howard Chan @HowardFChan]

@MikeSchiemer @kurvinvest @MIT @PIMCO You are too kind. The picture smooths out the stress lines.

[Howard Chan @HowardFChan]

Great news for Fidelity investors: Kurv ETFs will be available with no transaction fees starting June 1 — the same access you have today, now confirmed going forward.

[Howard Chan @HowardFChan]

Despite some central banks selling some gold holdings to buffer the oil shock, the net purchase was positive and increasing. Big purchaser: Poland.

[Howard Chan @HowardFChan]

Will have good news after next Friday.

[Howard Chan @HowardFChan]

Don’t worry. Will have more on the Fidelity thing shortly.

[Howard Chan @HowardFChan]

Short term headwinds from rates, oil shocks, and market rotation have weighed on mega cap technology. These pressures are real and worth acknowledging.

However, the long term drivers remain firmly in place.

In our latest piece, we examine the distinction between near term dynamics and long term fundamentals, and how we are thinking about capturing both growth and income in the current environment.

Read More: https://t.co/qGCBCoRBdz

[Howard Chan @HowardFChan]

Short-term volatility does not change long-term structural supply-demand imbalance. Pick the right freeway.

[Bloomberg @business]

The global silver market is expected to remain in a deficit for a sixth consecutive year amid robust demand for bars and coins, and declining supplies, according to the Silver Institute https://t.co/Xk77T9mmqZ

[Howard Chan @HowardFChan]

Interesting charts from LSEG. The market did not adjust its forecast for earnings growth despite the war: higher, and even higher for the tech sector. We have a lower P/E ratio from both the numerator (down) and denominator (up). For the IT sector, it is back below 20, or back at 2019 level.

[Kurv Investment Management @kurvinvest]

🎉 Last week in Chicago, the Kurv team came together to ring the closing bell at @Cboe, celebrating 10 ETFs now listed on the exchange. A memorable day of teamwork, growth, and market innovation! 🔔📈

[Kurv Investment Management @kurvinvest]

Commodity exposure isn’t always as straightforward as it seems.

Futures based commodity ETFs can face hidden costs especially when markets move into contango potentially eroding returns over time. Spot exposure may offer a cleaner way to participate in rising metals prices while avoiding some of those structural headwinds.

@HowardFChan and Dominique Tersin explore the difference between spot and futures and why it matters for investors. Read more: https://t.co/rasnSmIymB

[Howard Chan @HowardFChan]

@Investor_x1 Take a look at the SAI for any of our ETFs where we need to disclose this at least once a year. Usually around page 42-44 ish.