A darling of the housing gloom-spruikers, and some local media accomplices, has been forced to close his second fund according to CBS News:
The AdvisorShares family of active exchange-traded funds recently announced it would be closing its DENT Tactical ETF (DENT). This ETF is based on the demographic research from bestselling author Harry Dent. According to the fund description, DENT seeks to achieve its investment objective by identifying broad trends in the U.S. and global economies and then implementing investment strategies in asset classes (such as, but not limited to, foreign and domestic equities or fixed income securities) that the portfolio manager believes will benefit from these trends. This is the second fund based on Dent's demographic analysis. A mutual fund known as the AIM Dent Demographic Trends fund once had $2 billion in assets, and then was merged into another now extinct mutual fund after 80 percent of the assets evaporated. Dent told me that the poor performance was due to the fund not taking all of his advice.
