Latest news with #Patti
Yahoo
a day ago
- Business
- Yahoo
New 'Animal Spirits' ETF Offers 2x Exposure to Major Stocks
If you believe human emotions drive investment gains and losses, VistaShares may have a new exchange-traded fund for you. On Wednesday, the asset manager launched the VistaShares Animal Spirits 2x Daily Strategy ETF (WILD), which will offer 2x daily exposure to five of the most popular stocks based on their buying momentum and investor sentiment. Adam Patti, CEO of VistaShares, told that he had been intrigued by single-stock leveraged products for over a year before wanting to provide a better option. These types of funds, which trade a single equity and multiply performance with derivatives, have surged in popularity of late despite their risk and volatility. 'Whether you like them or not, investors have a clear use of them to express their views of the market or specific stocks,' Patti said. After speaking to institutions and institutional trading desks about offering high-beta exposure—and how those firms were creating methodologies to package several names together as opposed to taking a bet on one name—VistaShares came up with its own methodology. This involves looking at the universe of the roughly 30 underlying names that have single-stock leveraged ETFs associated with them, then choosing the ones with the most assets deployed against them and the most assets flowing into them. The portfolio composition is adjusted monthly to reflect any changing sentiment around the popular stocks. The five names are equally weighted. 'We're trying to harness investor sentiment and momentum in the marketplace, and go where the money is going,' Patti said. 'If you believe that these wildly successful trading stocks are going up, this is a great way to get that exposure." He added that the fund also lessens the risk of being exposed to a single stock. The VistaShares suite of ETFs also includes the VistaShares Target 15 Berkshire Select Income ETF (OMAH), an active ETF allowing market participants to invest like Warren Buffett and get monthly income potential, and the VistaShares Target 15 USA Quality Income ETF (QUSA), which combines factor-based equity investing with an options overlay designed to generate high monthly income. Just last week, Tidal Trust filed with the Securities and Exchange Commission for VistaShares to offer seven ETFs with exposure to the top picks of elite investors such as Michael Burry of Scion Asset Management and Bill Ackman of Pershing Square Holdings. 'What we're trying to do here at VistaShares is create products that don't exist,' Patti said when asked about WILD. That includes leveraging 'institutional-type portfolio construction to fill white space in the market and hopefully provide products that have strong use cases.'Permalink | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
a day ago
- Business
- Business Wire
VistaShares Harnesses the 'Animal Spirits' of the Market With the Launch of WILD
SAN FRANCISCO & BOSTON & NEW YORK--(BUSINESS WIRE)-- VistaShares, an innovative asset manager seeking to disrupt the status quo in growth equity and income investing, today announced the newest addition to its ETF lineup: the VistaShares Animal Spirits™ 2x Daily Strategy ETF (WILD). "(WILD) offers a more diversified approach to investing in high-beta securities, and we believe it is the next stage in the evolution of what a leveraged ETF can be,' Adam Patti, CEO of VistaShares. 'The leveraged ETF category has gained a significant number of adherents in recent years, and WILD brings a very different approach to the conversation,' said Adam Patti, CEO of VistaShares. 'Using a systematic process, WILD provides 2x leveraged daily exposure to a portfolio of five widely traded stocks exhibiting the strongest investor sentiment and buying momentum. The portfolio composition is adjusted monthly to reflect changing sentiment among these popular trading stocks. It offers a more diversified approach to investing in high-beta securities, and we believe it is the next stage in the evolution of what a leveraged ETF can be.' Underpinning WILD's investment philosophy is the idea of an 'Animal Spirits'- focused approach to investing, which seeks to capitalize on the behavioral and psychological factors that drive investor sentiment and market trends. WILD targets those companies that are garnering outsized attention from traders, reflecting the influence of investor optimism and momentum, which can be key elements of note in seeking attractive investment returns. By providing 2x daily levered exposure to this basket of stocks, WILD allows investors to tap into the type of tactical alpha trading solution long favored by sophisticated institutional investors. 'Institutional trading desks have long put a similar approach to work in their efforts to deliver high-beta exposure to their institutional clients,' added Patti. 'Single-stock leveraged ETFs have clearly found an audience for the roles they can play in a portfolio. The attention different funds in that category attract can tell us much about how the market is viewing a specific company. With that information, we can build an actively managed, concentrated portfolio of those stocks that are generating the most momentum and fueling the most investor optimism, seeking to deliver 2x daily performance for the resulting basket of equities. It's an approach long favored by institutional traders and now available to all investors for the first time.' WILD joins a VistaShares ETF lineup that also includes the fast-growing equity/income solutions OMAH and QUSA, as well as AIS, an AI Infrastructure ETF that upends the traditional thinking around how thematic portfolios can be constructed and managed. For more information and updates from VistaShares, please visit and follow the firm on Linkedin @VistaShares and on X @VistaSharesETFs. The VistaShares Animal Spirits Daily 2x Strategy ETF (the '2x Fund') seeks daily leveraged investment results and is intended to be used as a short-term trading vehicle. The 2x Fund attempts to provide daily investment results that correspond to two times (200%) the share price performance of an actively-managed group of equity securities (the 'Target Portfolio'). The 2x Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The 2x Fund is very different from most mutual funds and exchange-traded funds. The volatility of the market value of the Target Portfolio may affect the 2x Fund's return as much as, or more than, the Target Portfolio's return. The performance of the 2x Fund for periods longer or shorter than a single day will very likely differ in amount, and possibly even direction, from 200% of the daily return of the Target Portfolio's market value for the same period, before accounting for fees and expenses. The 2x Fund may not perform as expected. he 2x Fund is not suitable for all investors. The 2x Fund is designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies. About VistaShares At VistaShares, we strive to deliver innovative investment solutions for today's investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering three distinct solutions. Our Pure Exposure™ Growth Equity ETFs target technology-driven economic Supercycles™ that we believe are poised for significant growth. Target 15™ Options-Income ETFs are designed to generate high monthly income while complementing a core equity portfolio. Animal Spirits™ Tactical Alpha ETFs are designed to provide investors short term trading vehicles that seek to harness momentum and investor sentiment. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288. Read the prospectus or summary prospectus carefully before investing. Investing involves risk, including possible loss of principal. Beta is the measure of the risk or volatility of a portfolio or investment compared with the market as a whole. Animal Spirits Strategy Risks. The Fund's investment strategy of focusing on companies with strong investor interest carries significant risks. This approach may result in the Fund investing in overvalued securities, as heightened enthusiasm can inflate stock prices beyond their intrinsic value, leaving them vulnerable to sharp corrections. The strategy is influenced by herd mentality, which could lead the Fund to participate in speculative bubbles that may collapse suddenly. Additionally, the strategy often involves a short-term focus, with investments driven by fleeting trends or news cycles, increasing the likelihood of heightened volatility and unpredictability. The Fund may also invest in companies that lack fundamental financial support, relying more on market hype than on sustainable growth or profitability. There is a significant risk of timing errors, as the strategy requires precise entry and exit points to avoid losses. Finally, because the Fund's strategy is based on a ranking process of companies with strong investor interest, the investment decisions may prove to be poor. Index Strategy Risk. The Fund's strategy is linked to an Index maintained by the Index Provider that exercises complete control over the Index. The Index Provider may delay or add a rebalance date, which may adversely impact the performance of the Fund and its correlation to the Index. In addition, there is no guarantee that the methodology used by the Index Provider to identify constituents for the Index will achieve its intended result or positive performance. Errors in Index data, Index computations or the construction of the Index in accordance with its methodology may occur from time to time and may not be identified and/or corrected for a period of time or at all, which may have an adverse impact on the Fund. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund's investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, leverage, imperfect daily correlations with underlying investments or the Fund's other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. The use of derivatives may result in larger losses or smaller gains than directly investing in securities. When the Fund uses derivatives, there may be imperfect correlation between the share price of the Target Portfolio and the derivative, which may prevent the Fund from achieving its investment objective. Because derivatives often require only a limited initial investment, the use of derivatives may expose the Fund to losses in excess of those amounts initially invested. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser's effectiveness. Non-Diversification Risk. Because the Fund is 'non-diversified,' it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund's overall value to decline to a greater degree than if the Fund held a more diversified portfolio. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. Payment of principal and interest on U.S. Government obligations may be backed by the full faith and credit of the United States or may be backed solely by the issuing or guaranteeing agency or instrumentality itself. In the latter case, the investor must look principally to the agency or instrumentality issuing or guaranteeing the obligation for ultimate repayment, which agency or instrumentality may be privately owned. There can be no assurance that the U.S. Government would provide financial support to its agencies or instrumentalities (including government-sponsored enterprises) where it is not obligated to do so. Models and Data Risk. The composition of the Index is heavily dependent on proprietary quantitative models as well as information and data supplied by third parties ('Models and Data'). High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund's holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses. Non-Diversification Risk. Because the Fund is 'non-diversified,' it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. Foreside Fund Services, LLC, distributor.
Buzz Feed
5 days ago
- Entertainment
- Buzz Feed
Patti LuPone Apology For New Yorker Comments
Hell truly hath frozen over: Patti LuPone is apologizing for something — specifically, her controversial New Yorker profile comments. Brief recap if you need it: In the profile, interviewer Michael Schulman asked Patti about her conflict with Hell's Kitchen star Kecia Lewis. Last year, Kecia shared an "open letter" to Patti on IG accusing her of being "racially microaggressive" in several instances which Patti complained about the volume of Hell's Kitchen performances during her performance in The Roommate, which shared a wall with the Hell's Kitchen theater. Patti's response was, honestly, terrible. "She calls herself a veteran? Let's find out how many Broadway shows Kecia Lewis has done, because she doesn't know what the fuck she's talking about," she said. "She's done seven. I've done 31. Don't call yourself a vet, bitch!" Things got even worse when Michael pointed out to Patti that Broadway legend Audra McDonald had responded supportively to Kecia's IG post. "Exactly," she said. "And I thought, 'You should know better.' That's typical of Audra." Patti went on to say that Audra is "not a friend," and claimed that the conflict between the two goes back a bit. When Michael asked Patti about Audra's recent performance in Gypsy, which gained her a 11th Tony nomination — making her the most nominated performer in the awards' history — Patti reportedly stared in silence for 15 seconds before turning to a nearby window and sighing, "What a beautiful day." Y-I-K-E-S. Patti's behavior offended a lot of people. Yesterday, over 500 Broadway artists signed an open letter calling out the "racialized disrespect" of Patti's comments, and making an open plea for Patti to be disinvited from this year's Tony Awards. Since getting disinvited to a party is a fate worse than death for most famous people, Patti is now taking back her words and actions. "For as long as I have worked in the theatre, I have spoken my mind and never apologized," she said in a statement sent to BuzzFeed. "That is changing today." "I am deeply sorry for the words I used during The New Yorker interview, particularly about Kecia Lewis, which were demeaning and disrespectful. I regret my flippant and emotional responses during this interview, which were inappropriate, and I am devastated that my behavior has offended others and has run counter to what we hold dear in this community. I hope to have the chance to speak to Audra and Kecia personally to offer my sincere apologies." "I wholeheartedly agree with everything that was written in the open letter shared yesterday. From middle school drama clubs to professional stages, theatre has always been about lifting each other up and welcoming those who feel they don't belong anywhere else. I made a mistake, I take full responsibility for it, and I am committed to making this right. Our entire theatre community deserves better." OK then!
Chicago Tribune
6 days ago
- General
- Chicago Tribune
Waukegan program aims to keep students from being left back; ‘Ensure they receive targeted, timely support … before promotion decisions are made'
A new summer school bridge program in Waukegan Community Unit School District 60 — which has been years in the making and will give students with unsatisfactory performance an opportunity to advance to the next grade — debuts next week. Amanda Patti, the district's associate superintendent of strategy and accountability, said a plan was developed in 2018 to give students more tools to succeed rather than requiring them to repeat a grade or advancing them without the needed skills. Though the plan had wide community support, Patti said in an email that when the coronavirus pandemic forced schools to close for the rest of the academic year in March 2020, and learning was remote for most of the following term, the program was never implemented. 'The policy has since been revised through an equity-focused review process,' she said. 'The new policy emphasizes classroom performance and academic growth over standardized test results. In past years, retentions were rare, with just a handful annually.' The Summer Bridge program begins Tuesday at select elementary and middle schools, as well as the Waukegan High School Brookside campus, giving students with poor grades over the past school year a shot at promotion, as well as traditional summer school. Giving the District 60 Board of Education an update Tuesday at the Education Service Center in downtown Waukegan, Patti said students who complete third grade, eighth grade or their freshman year in high school with a subpar report card can choose summer school over retention. All 253 students — 56 third graders, 121 middle schoolers and 76 freshmen — who did not meet the necessary academic benchmarks chose the bridge. They include 5.4% of the district's third-grade students, 12.1% of those in middle school and 8.4% of the high school freshmen. Patti said third graders performing below grade level in both math and reading must enter the bridge program to move on to fourth grade. Before entering high school, eighth graders must have a rolling 2.0 grade point average or go into the bridge program. Freshmen must enter the bridge program if they do not earn three credits. The bridge program recommendation was not a surprise to the families involved, she said. With each report card, parents knew if their child was performing poorly. Simultaneously, Patti said there were interventions with the students and supports put in place. 'We had parent notification and conferencing throughout the year,' she said at the meeting. 'So, parents and students had a lot of information to know where they were, and how to potentially get off this list for promotion/retention.' Superintendent Theresa Plascencia said in an email that the policy is designed to avoid requiring a student to repeat a grade by helping them learn the required material rather than increasing the number. 'This policy is designed to identify students at risk of falling behind and ensure they receive targeted, timely support to address their academic needs before promotion decisions are made,' she said. At the end of the first quarter of the school year, 85 third graders were notified. The number averaged 88 in the next two grading periods before dropping to 56 by the end of the year, according to district records. The number of middle school students needing extra help hovered at 200 at one point, but fell to 121. High school students were steady through the year, settling at 76. Plascencia said helping students advance is a joint effort between the youngsters, their families and school personnel. It is important that everyone does their part to ensure students are not required to repeat a grade. 'We hope to reinforce that students understand their responsibility as learners, that parents are informed and actively partnering with us to support their child's academic performance and that schools are expanding opportunities to ensure every student has access to the supports and interventions they need to succeed,' Plascencia said.
Buzz Feed
27-05-2025
- Entertainment
- Buzz Feed
Patti Lupone On Audra McDonald Feud
If there's one type of feud that catches peoples' eyes, it's a Broadway feud. Remember when Laura Benanti slammed Zachary Levi late last year? (How could you not?) The award for this year's messiest Broadway kerfluffle so far handily goes to Patti LuPone, who recently unspooled some grievances towards several fellow Broadway actors — including the legendary Audra McDonald – in a wide-ranging New Yorker profile. The barbs started flying after interviewer Michael Schulman asked Patti about her conflict with Hell's Kitchen star Kecia Lewis. Last year, Kecia shared an "open letter" to Patti on IG accusing her of being "racially microaggressive" in several instances which Patti complained about the volume of Hell's Kitchen performances during her performance in The Roommate, which shared a wall with the Hell's Kitchen theater. "In our industry, language holds power and shapes perception, often in ways that we may not immediately realize," Kecia said. "Referring to a predominantly Black Broadway show as 'loud' can unintentionally reinforce harmful stereotypes, and it also feels dismissive of the artistry and the voices that are being celebrated on Broadway, we are not just neighbors, Ms. LuPone, we're a community that shares in each other's artistry and challenges. Respect and collaboration are what keep us thriving and inspire the next generation." Patti's response in the profile to Kecia's (very reasonable!) plea for decency exactly charitable. "She calls herself a veteran? Let's find out how many Broadway shows Kecia Lewis has done, because she doesn't know what the fuck she's talking about," she said. "She's done seven. I've done 31. Don't call yourself a vet, bitch!" (As the profile points out, Kecia Lewis actually has 10 Broadway credits to her name. Patti actually has 27.) Things only got more heated when Michael pointed out to Patti that Audra had responded supportively to Kecia's IG post. "Exactly," she said. "And I thought, 'You should know better.' That's typical of Audra." Patti went on to say that Audra is "not a friend," and claimed that the conflict between the two goes back a bit. But the real kicker came when Michael asked Patti about Audra's recent performance in Gypsy, which gained her a 11th Tony nomination — making her the most nominated performer in the awards' history. When asked about the performance, Patti reportedly stared in silence for 15 seconds before turning to a nearby window and sighing, "What a beautiful day." Jeez louise. Something tells me we haven't heard the last of this feud yet, but who knows!
