5QQQ - 5X Leveraged QQQ

Soooo, I just read a Bloomberg article about this ETN that unsurprisingly is listed in London and Amsterdam and not the U.S. Europe has always been more comfortable with crazy leveraged products. In Germany there’s like 10x levered products you can buy etc. I’m feeling a bit of FOMO now not being able to participate in this new level of pandemonium. I believe this runs afoul of PFIC legislation for all us U.S. citizens. If it didn’t I would seriously consider doing a bunch of work on it, and potentially selling a big chunk of my TQQQ holdings and paying ridiculous cap gains to switch ETF/Ns. Maybe I’m just being a pussy and even with the crazy PFIC taxes 5QQQ will come out ahead. Or maybe it goes to zero one fateful day when passive ETF selling goes into overdrive.

I’m too lazy to do the work because I’ll just be sad I can’t take part in the ETN, but all you non-American European people who were interested in TQQQ should look into this one!

And of course post your thoughts here so I can live vicariously.

 

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