with today's ETF edge in the growing debate over buffer funds as investors decide if downside protection is worth limiting possible gains. Dom Chu following the money force domino. All right, so Judge, what happens if you don't have to have a cap on that upside.So, as the markets grind higher, those so-called buffer ETFs have been catching a lot of flack for that limited upside potential, but there's a twist in the methodology that some ETFs have to kind of quell out some of that criticism. Joining me now i ...

Core Insights - Bitcoin is currently priced at approximately $110,000, but it is still considered the best cryptocurrency to invest in with $100 due to its potential for significant future gains [2][3] Group 1: Bitcoin's Future Potential - There is a growing consensus that Bitcoin could increase in value tenfold within the next few years, with projections suggesting it could reach $1 million within five years and even $3.8 million by 2030 [3][4] - Achieving a price of $1 million from $110,000 implies a compound annual growth rate (CAGR) of 56%, which is a challenging target even for top tech growth stocks [4] Group 2: Historical Performance - Bitcoin has been the top-performing asset globally in eight of the past ten years, with a remarkable gain of 157% in 2023, significantly outperforming the S&P 500, which returned only 26% [5][8] - Despite its strong performance, Bitcoin has experienced significant downturns, losing 64% in 2022 and 74% in 2018, indicating the importance of holding through volatility [6][7] Group 3: Investment Strategy - Investors considering Bitcoin should be prepared to hold for at least four years, as the asset has historically shown periods of poor performance interspersed with substantial gains [6][7] - After a downturn in 2022, Bitcoin rebounded with gains of 157% in 2023 and 125% in 2024, demonstrating its potential for recovery and growth [7]

Core Insights - Calamos Investments has launched three new alternative bitcoin funds, the Calamos Laddered Bitcoin Structured Alt Protection ETFs, which are designed to provide laddered bitcoin exposure while offering varying levels of downside protection and upside potential [1][2][8] Fund Details - The Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL) invests in four Calamos 100% Protected Bitcoin ETFs, providing 100% downside protection with a net expense ratio of 0.79% [2][3] - The Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF (CBTL) also has an expense ratio of 0.79% and invests in Calamos 80% Protected Bitcoin ETFs, limiting total loss to -20% while allowing for a higher upside cap compared to CBOL [4][5] - The Calamos Laddered Bitcoin 90 Series Structured Alt Protection ETF (CBXL) offers a middle ground, with a 79 basis points expense ratio and limiting total loss to -10%, appealing to investors seeking moderate risk [6][7] Market Context - The introduction of these funds addresses the volatility of bitcoin, which has been a barrier for many investors, by providing structured risk management options [2][8] - Advisors are increasingly comfortable offering bitcoin exposure to clients, and these new funds aim to enhance portfolio returns while managing risk [8]

Your next guest is looking at the options market as a way to limit some downside risk. That would be Jeff Kilberg, KKM Financial on set. I love it.Everybody's on set. Jeff, thanks for coming in. How do we do that. How do we protect ourselves.>> Well, S, you're absolutely right. It's getting a very noisy environment. We are seeing a lot of really smart folks come out and talk about downside protection.So, I want to use SPY. That's the S&P 500 ETF. And if you think about the notional value, if you were to sel ...

Core Insights - Calamos Investments has launched three new Protected Bitcoin ETFs, each designed to offer varying levels of bitcoin return exposure and downside protection [1][6] Fund Summaries - The Calamos Bitcoin Structured Alt Protection ETF – October (CBOO) provides the highest level of downside protection, ensuring 100% principal protection over a one-year outcome period, with an initial cap rate of 8.47% before fees [2][6] - The Calamos Bitcoin 80 Series Structured Alt Protection ETF – October (CBTO) targets higher returns with an initial cap rate of 41.62% after fees, but it limits losses to a maximum of -20% over the outcome period [3][4] - The Calamos Bitcoin 90 Series Structured Alt Protection ETF – October (CBXO) offers a balanced approach, limiting losses to -10% while providing an initial cap rate of 23.43% before fees [5][6] Investment Strategy - Each of the new funds presents unique advantages for investors, particularly in the context of increasing interest in bitcoin and the importance of downside protection [6]

Group 1 - Fortress Investment Group announced the death of its co-chief executive at the age of 51, with no cause of death provided [1] - Vanguard is promoting actively managed bond funds, with 44 out of 48 of its active bond funds outperforming their peer group averages over a 10-year period [2] - The SEC has directed ETF share class applicants to align their filings with Dimensional's updated version, affecting nearly 80 fund firms since Vanguard's patent expired in 2023 [3] Group 2 - The complexity of human behavior in tax-efficient investing is highlighted, emphasizing the role of advisors as behavioral coaches rather than just financial experts [4] - Prosecutors are countering demands for specific examples in the fraud case against Western Asset Management's former co-chief investment officer, asserting that the defense misrepresents the government's strategy [5] - Fund managers may restrict or suspend withdrawals when new money stops coming in, which can erode investor trust and signal serious trouble for the fund [6] Group 3 - Downside protection ETFs serve a niche purpose but are not a true substitute for equity exposure, with their complexity masking modest benefits compared to traditional fixed income strategies [7] - The rapid issuance of ETFs raises concerns, as many new ETFs have low assets under management (AUM), with an average AUM of about $230 million but a median of only $25 million [8] - BlackRock's co-head of Private Equity Partners suggests that semi-liquid fund structures can facilitate the adoption of model portfolios by linking private market exposures more easily [9] Group 4 - Nuveen aims to raise $3 billion for a private farmland REIT, citing new farming technology, expected growth in global food demand, and scarcity of undeveloped farmland as factors that will boost land values [10] - CAIS has expanded its advisor menu to include 17 private markets firms, bringing the total number of participating firms to roughly 70, offering over 150 funds [11]

Group 1 - The article discusses the author's journey into investing, starting in high school in 2011, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-standing interest in markets and the economy [1] - The author has recently adopted a strategy that combines long stock positions with covered calls and cash secured puts, emphasizing a fundamental long-term investment approach [1] - The author primarily covers REITs and financials on Seeking Alpha, with occasional articles on ETFs and other stocks influenced by macro trade ideas [1]