iBillionaire—the creators of the index backing the Direxion iBillionaire Index ETF—are at again, launching a new index that tracks the dividend stocks being bought by hedge fund masters of the universe and other financial billionaires. The iBillionaire High Dividend Index, which was just launched today, is an equally-weighted basket of 50 high-dividend stocks held by high-profile billionaires in the financial sector. iBillionaire currently tracks the trading moves of 25 billionaire investors, and recent additions include living legends like Stanley Druckenmiller, James Dinan and Nelson Peltz.
In a low-yield world in which “high dividend” is something of a relative term, the iBillionaire High Dividend Index actually lives up to its name. Its dividend yield is a solid 5.34% according to iBillionaire. I’ve written about iBillionaire and the Direxion iBillionaire ETF before (see “Investing Like a Billionaire”), and I’m a big fan of iBillionaire’s methodology as well as those of competitor ETFs like the Global X Top Guru Holdings Index ETF and the AlphaClone Alternative Alpha ETF. I don’t believe in mindlessly copying the trading moves of other investors, no matter how storied their careers, but I do consider guru-following strategies to be a fantastic source of trading ideas.
Source: Forbes
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This one statement sums up my reasoning for not buying into the iBillionaire dividend index, "I don’t believe in mindlessly copying the trading moves of other investors." It seems that in recent years more and more gimmicky ETFs are pooping up. From inverse ETFs to 2x and 3x plays to the iBillionaire index. Just seems like Wall St. is trying to hook more individuals into products that are not fully understood nor provide and real long term value. Thanks for sharing.