Latest news with #Calamos
Yahoo
22-07-2025
- Business
- Yahoo
Bitcoin with Bubblewrap: Calamos Preps Laddered ETFs
Photo by JHVEPhoto via iStock Calamos is planning to take Bitcoin investing to a new level, and it wants to offer ETF customers a ladder to get there. The company this week filed for approval from the Securities and Exchange Commission to offer three new exchange-traded funds: the Calamos Laddered Bitcoin Structured Alt Protection, Laddered Bitcoin 80 Series Structured Alt Protection; and Laddered Bitcoin 90 Series Structured Alt Protection ETFs. They would be the latest in the firm's suite of Bitcoin ETFs that offer varying levels of downside protection, a product line Calamos launched earlier this year. Providing exposure to Bitcoin with limits on losses (and upside) can appeal to financial advisors and investors who have been interested in crypto, but leery of the volatility, said Matt Kaufman, head of ETFs at Calamos. 'The financial advisory community hasn't adopted Bitcoin or crypto in a large way,' he said. 'This creates a bridge into Bitcoin for people who otherwise wouldn't approach it.' READ ALSO: Why Invesco Wants QQQ to Become an Open-End Fund and Best International Equity ETFs of 2025 Step by Step, Bitcoin by Bitcoin The proposed ETFs would use options and have exposure to the prices of up to five ETFs: the iShares Bitcoin Trust ETF (IBIT), Grayscale Bitcoin Mini Trust (BTC), Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC) and Ark 21 Shares Bitcoin ETF (ARKB). The funds are 'laddered' in the sense that they would invest in underlying Bitcoin ETFs with different target outcome periods, meaning diversification in the timeframes in which they are exposed to different Bitcoin ETFs, according to the prospectuses. What makes the downside protection compelling is that investors may feel comfortable allocating more than the 1% to 2% to Bitcoin that asset managers have recommended, Kaufman said. That may also be the case for early-stage crypto investors, whose wealth has grown exponentially, and who now want to pull back on risk and trade pure Bitcoin holdings for the ETFs, he said. 'You can actually increase risk-adjusted returns in the portfolio,' he said. The firm's protected Bitcoin suite has grown in number of products and total assets since January: Calamos has nine such ETFs, providing downside protection at levels of 80% (40% upside limit), 90% (24.7% limit) and 100% (10% limit), with issuance dates starting in January, April and July. Assets in those funds represent about $130 million, according to the company. Paying for Protection: Bitcoin ETFs, particularly those that provide novel investment strategies, might be the best fit for nonbelievers. 'Although volatile, if you are investing in Bitcoin and are a believer in the asset, I'm not sure why you would want to cap your upside,' said Kevin Feig, a former head of risk at crypto exchanges Coinbase and Kraken, who founded advisory firm Walk You To Wealth. 'Additionally, investors need to be aware of the expense ratio associated with these types of funds, especially considering that fees associated with existing Bitcoin ETFs are likely to reduce as the ability to hold Bitcoin, without the need for an ETF, becomes more widely available in retirement accounts.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
Yahoo
01-07-2025
- Business
- Yahoo
Self-made billionaire John Calamos says young people need to hustle — and have a mission in life — to be successful
John Calamos says young people need to work hard to succeed, but it's OK to change course in life. The billionaire investor and former Air Force pilot shared his advice for young people with BI. Calamos said that having a mission in life is vital, and wealth often comes as you work toward it. Self-made billionaire John Calamos says the road to success can be steep and winding, and wealthy parents should teach their kids that finding meaning in life trumps money. Calamos, 84, grew up in an apartment above his Greek-American family's grocery store, where he started working at a young age. He piloted jets during the Vietnam War before building his business empire. He's the founder of Calamos Investments, which manages assets worth more than $40 billion. Calamos, who published a biography, "The Sky's the Limit," in April, shared his advice for young people and parents with Business Insider. Calamos joined the military after taking to heart President John F. Kennedy's appeal for people to "ask not what your country can do for you; ask what you can do for your country." The convertible-bond pioneer has a similar message for graduates: "You don't get out of school now and say, 'OK, what is the government going to give me?'" he said. "It's not what the government's going to give you, it's what you can do." Calamos said that he was able to become wealthy despite modest beginnings by being "creative, innovative." Being determined and having goals are key to achieving great things, he added. In his book, he writes that young people shouldn't bow to pressure to specialize early, as he found value in a "more winding path." Calamos started off as an engineering student, studied philosophy, switched to architecture, graduated with a degree in economics, then later earned an MBA. "It's OK to change course as you learn more about yourself — what you truly care about and what ignites your passion," he writes. Calamos added that it's crucial to keep learning, stay curious, and look for better ways to do things at every stage of one's career. "This focus on continual improvement, innovation, and learning has been key to my own success," he writes. Calamos shared one of his biggest takeaways from his childhood and suggested how affluent parents might avoid raising entitled children. "What I learned from my parents was just a work ethic," he told BI. "They worked hard all the time." Calamos began working from a young age, first stocking shelves in his family's store, later delivering groceries and newspapers, washing windows, and more. A parent's job isn't to simply hand money to their children, it's to instill in them the values of hard work and perseverance, he added. He said that the message should be, "It's not about the money, it's about the mission — the money is a byproduct." Read the original article on Business Insider
Yahoo
01-07-2025
- Business
- Yahoo
Calamos Launches First Autocallable ETF
The future is autocalling. And alternatives manager Calamos is ready for it, pioneering an autocallable ETF that began trading last week. It's the first ETF of its kind, providing monthly income via a coupon tied to equity markets rather than bonds, according to a release. The Calamos Autocallable Income ETF (CAIE) enters into swap agreements with JPMorgan and tracks the MerQube US Large Cap Vol Advantage Autocallable Index. The fund climbed 1.5% from Wednesday, its first day of trading on the NYSE Arca, through Friday afternoon. 'It replicates some of what structured notes do, and that space has grown tremendously,' said Matt Kaufman, the company's head of ETFs. 'All the boats have risen with the tide. I think that's going to happen with autocallables as well.' READ ALSO: ETFs Built On Tax Advantage Draw Congressional Scrutiny and ETF Investors Lured to AI, Crypto, Fintech The arrival of autocallables — structured products that are automatically redeemed when certain conditions, such as the underlying asset reaching a specified value, are met — further broadens the spectrum of ETF products. Calamos is betting on autocallables reaching the same level of popularity as buffer ETFs and structured annuities, said fund uses a laddered structure in which different notes have different maturity dates, staggered weekly. Kaufman said the product is ideal for investors who want a high-risk, high-reward, regular income option without the reinvestment risk that comes with single-note autocallables. 'A lot of advisors today who are buying autocallable notes, those notes can get called away … and then you have to go shopping again. You have to reinvest your proceeds,' Kaufman said. 'All of that goes away when you build a laddered version of this inside of an ETF.' CAIE's MerQube index is tied to $3 billion in JPMorgan structured notes, Kaufman added, giving investors exposure to the roughly 52 laddered autocalls inside the fund. According to recent data: Autocallable structured notes made up more than $104 billion in issues last year, according to Calamos. Derivative income funds and covered-call strategies saw $39 billion in net inflows, pushing total AUM to $114 billion, per Morningstar. Having Faith. Vinit Srivastava, the co-founder and CEO of MerQube, said the diversified aspect of index-based autocalls reassures investors that their investments will generate returns. 'As the market is changing, we think option-linked ETFs will keep growing,' he added. 'Things that people did not consider, like [autocallables], to be in their portfolio, they will see more of that going forward.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
Business Insider
01-07-2025
- Business
- Business Insider
Self-made billionaire John Calamos says young people need to hustle — and have a mission in life — to be successful
John Calamos says young people need to work hard to succeed, but it's OK to change course in life. The billionaire investor and former Air Force pilot shared his advice for young people with BI. Calamos said that having a mission in life is vital, and wealth often comes as you work toward it. Self-made billionaire John Calamos says the road to success can be steep and winding, and wealthy parents should teach their kids that finding meaning in life trumps money. Calamos, 84, grew up in an apartment above his Greek-American family's grocery store, where he started working at a young age. He piloted jets during the Vietnam War before building his business empire. He's the founder of Calamos Investments, which manages assets worth more than $40 billion. Calamos, who published a biography, "The Sky's the Limit," in April, shared his advice for young people and parents with Business Insider. Forge your own path Calamos joined the military after taking to heart President John F. Kennedy's appeal for people to "ask not what your country can do for you; ask what you can do for your country." The convertible-bond pioneer has a similar message for graduates: "You don't get out of school now and say, 'OK, what is the government going to give me?'" he said. "It's not what the government's going to give you, it's what you can do." Calamos said that he was able to become wealthy despite modest beginnings by being "creative, innovative." Being determined and having goals are key to achieving great things, he added. In his book, he writes that young people shouldn't bow to pressure to specialize early, as he found value in a "more winding path." Calamos started off as an engineering student, studied philosophy, switched to architecture, graduated with a degree in economics, then later earned an MBA. "It's OK to change course as you learn more about yourself — what you truly care about and what ignites your passion," he writes. Calamos added that it's crucial to keep learning, stay curious, and look for better ways to do things at every stage of one's career. "This focus on continual improvement, innovation, and learning has been key to my own success," he writes. Hard work and hustle Calamos shared one of his biggest takeaways from his childhood and suggested how affluent parents might avoid raising entitled children. "What I learned from my parents was just a work ethic," he told BI. "They worked hard all the time." Calamos began working from a young age, first stocking shelves in his family's store, later delivering groceries and newspapers, washing windows, and more. A parent's job isn't to simply hand money to their children, it's to instill in them the values of hard work and perseverance, he added. He said that the message should be, "It's not about the money, it's about the mission — the money is a byproduct."
Business Insider
29-06-2025
- Business
- Business Insider
Billionaire John Calamos says he's bullish on stocks and the economy — and won't follow Warren Buffett off stage yet
John Calamos issued a cheery outlook for stocks and the economy, and ruled out following Warren Buffett in stepping down anytime soon. The stock market is "coming back very, very well, so I'm pretty positive on that," the billionaire founder and chief investor of Calamos Investments told Business Insider this week. The benchmark S&P 500 has rallied more than 23% from its April low to trade at record highs as of Friday morning. Technology stocks like Tesla and Nvidia may be trading at heady valuations, but Calamos said he doesn't see any parallels to past bubbles such as the dot-com boom, which ended with a devastating crash. Calamos said it's "very difficult to predict something like that's going to happen," so instead he focuses on setting up portfolios that provide protection against risks like that. The convertible-bond pioneer said he expects volatility and uncertainty in markets to persist for a while, in part because President Donald Trump 's tariffs are clouding the global outlook. However, he expects those import taxes to eventually lead to better trade deals for the US that will be "positive, longer term." Calamos also said the Trump administration's fiscal policy is "going in the right direction." The president's " big, beautiful bill" — which is working its way through Congress — proposes significant tax cuts funded in part by reduced spending on entitlement programs. The veteran investor said he doesn't anticipate a recession, and inflation has "really come down," paving the way for more interest-rate cuts that promise to ease pressure on consumers and businesses and boost economic growth. Buffett and retirement Calamos started investing as a teenager, spent time working as a stockbroker, and quit to set up his own firm in 1977 after growing tired of being told what to do. Buffett took control of Berkshire Hathaway almost a decade earlier, in 1965. Calamos said the "Oracle of Omaha" was firmly on his radar. "Oh yeah, I respected him and what he was doing a lot," he said. Buffett, who turns 95 in August, announced in May that he intends to step down as CEO at the end of this year. Calamos said he doesn't plan to leave his post anytime soon. "Well, see, I'm not that old," he joked, pointing out that he's about a decade younger than Buffett. "I'm having a birthday next month, I'm going to call it the new 65."
