Ben Eisen

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1,467 appearances 35 recordings 1 series first heard Jul 2017 last heard Nov 2024

Ben Eisen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Structured Notes: Obstacles to Profiting Off Tech Stocks · 12 Sep 2018 podcast

Exactly. matched

The note is called and you basically earn a fraction of that yield. matched

And what we've found is that a lot of these notes, well, they deliver a lot smaller returns than the stock itself. matched

And oftentimes, because these products are packaged together with derivatives and bank debt, banks charge somewhat hefty fees. matched

And sometimes these fees, or oftentimes these fees, matched

are higher than the actual returns that an investor gets because the note's outstanding for such a short amount of time. matched

If you think about Facebook, it's taken a couple of big dives this year and one somewhat recently. matched

You've seen some of these notes tied to Facebook end up being, they continue to exist for longer than they might if they were tied to Amazon, which has been sort of on a straight line up. matched

And because of that, those notes get called at the earliest possible time. matched

Right. matched

His view was that the S&P is a little bit less volatile than an individual stock, and you sort of have a better sense of how the note's going to perform. matched

Of course, the note can also get called. matched

The S&P has been going up as well, recently hit record highs. matched

So matched

that's not out of the question. matched

But in that sense here, it's a little bit more of a known quantity. matched

And I think it's important to note that matched

oftentimes these notes do have a risk of principal loss. matched

So oftentimes the way that they are designed is if the underlying entity falls 25% or 30% or something like that at maturity, you end up taking losses on par with the underlying. matched

So it's a little bit more likely that a single stock will fall by that much than a big index, which is more diversified. matched

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