The
ticker symbol for
NASDAQ 100 Unit Trust. It's like an
index fund in that its price tracks the the
NASDAQ 100
stock index with
no human intervention (read, no
moron overpaid mutual fund manager to make
bad guesses). Unlike a fund, though, there is no
minimum amount that you have to purchase, you can
sell it short, buy it on
margin, or
trade options on it. In other words, it's just like a regular
stock, but its performance is not tied to any one company, rather the
market as a whole (therefore, one could argue that a
100% QQQ
portfolio is more
diversified than other one-stock portfolios).
You do need a
strong stomach and a
steady trigger finger, though. Like a couple of days after I bought my first batch of '
cubes' as QQQ's are sometimes called, their price took a semi-historic
dive. There was a lot of
handwaving in the
media, then the
correction was over, and the price resumed its
insane rate of ascent. If I had
panicked and sold, I would have been a
sucker.