Quarterly Market & Strategy Update - April 2024

Paul Kim, CEO and Co-Founder, and Michael Green, Portfolio Manager and Chief Strategist, provide an update on today’s major market themes as well as discuss the performance and positioning of some of Simplify’s flagship strategies.
For more information, visit www.simplify.u...
Investing involves risk including potential loss of principal.
The Simplify ETFs are distributed by Foreside Financial Services, LLC. Foreside and Simplify are not related.
BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND’S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS, A COPY OF WHICH MAY BE OBTAINED FROM www.simplify.us. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.

[@mikeconnell698]

For bond investors that thought Simplify bond funds have some magic, several of these funds had large cuts in distributions recently...
AGGH 33% cut from last month
HIGH 33% cut in last two months
BUCK 44% cut from last month
I appreciate the macro level report. Let's get these types of negative updates as well.

[@edreeves121]

Bitcoin idiocy is astonishing.

[@wapping2010]

Will FIG discontinue outsized tactical trades on individual stocks and adhere more to its ETF description?

[@TheRamalinga]

Been following Mike for a long time. He seems pushed to the wall and insecure. Pain is worst right before the turning point.

[@Cayman-Straddler]

What exactly is the strategy with FIG where you have sold uncovered calls on CVNA and bought puts on the same name? Why is this fund filled up with your other funds as holdings?

[@42dunbar]

FIG sold call and put spreads on CVNA. That’s a defined risk trade designed to (I assume) take advantage of the high IV in CVNA to generate income. Not defending the trade but just clarifying that they didn’t sell naked calls.

[@Erikpdx]

The other simplify funds meet the expectations he has for the market, like falling short term rates once the Fed cuts. Granted, so far that's been one of his bad macro takes.

[@joshsk8erx1]

​@@42dunbar I just looked at the holdings in FIG on the simplify ETFs website and it appears to be a naked 500 calls sold short, but doesn't show any calls bought to cover the position. On the puts side you can see what strikes were bought and sold. Carvana went up 40% starting mid April to now, while Fig went down pretty significantly (10%) during the same period.

[@Rothbardo]

The 8% loss on such a short term tactical bet was brutal. I hope the potential upside was worth it…

[@thomassieckmann8962]

Really look forward to these market updates. IMO you are underestimating the nefarious decisions of politicins. Short term thinking and corruption

[@spo0nman]

When will we get simplify products in Europe!?

[@TotallyRegWhatelse]

No account @Interactive Brokers (or one of its 'introducing broker' like CapTrader or LYNX), @Freedom24 (EU broker giving you access to the majority of US ETFs w/o MiFID II policy/UCITS standard), or @ a bank/broker based in Liechtenstein/Switzerland (like swissquote - but usually @ remarkably higher fees)?

[@spo0nman]

@@TotallyRegWhatelse I have both IB and Lynx but, I always get told that the product requires a KID in English or in a language approved for your country. Retail clients can trade packaged retail products only if an appropriate KID is available.

[@TotallyRegWhatelse]

@@spo0nman You have to acknowledge/tell them that you're a "professional investor" and not a financial newbee (a retail investor with limited know-how and experience).