Well, maybe your investments or exchange traded funds (ETFs) won’t be similar to finding a pot of gold this St. Patrick’s Day, but there are other ways to celebrate with a pot of corned beef washed down with a pint of Guinness.
Until the 1970s, St. Patrick’s Day in Ireland was a minor religious holiday. A priest would acknowledge the feast day, and families would celebrate with a big meal, but that was about it.
St. Patrick’s Day was basically invented in America by Irish-Americans, according to Philip Freeman of Luther College in Iowa. John Roach for National Geographic explains and tells that the modern day celebrations have nothing to do with the real man.
Today in the United States, St. Patrick’s Day is a way for Irish-Americans to honor the saint but also to confirm ethnic identity and to create bonds of solidarity. So enjoy your day and celebrate the Irish in you or near you, and say “Cheers!” with your pint of beer.
While the celebrations may not be enough to rally these ETNs, they are at or near their short-term trend lines. Could it be all the beer and corned beef we stocked up on?
Cheers!
- iPath Dow Jones AIG Grains ETN (JJG)
- E-TRACS UBS Bloomberg CMCI Livestock Index ETN (UBC)
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.