Or, as the writer puts it, "completely unhinged".
From Barron's Focus on Funds:
Barclays Oil ETN is Completely Disconnected from Commodity’s Price
Another oddity has developed in the market for exchange-traded notes.
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Barclays warned investors this week that the market price of a popular oil-tracking ETN has jumped to a massive premium over the value of the index it’s designed to track. While
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