Larry, Larry, Larry - don't tell people to hold these leveraged ETFs! I've ranted about this before, but it galls me when someone advises investors to hold these things. They are designed to lose value over time - even if you are right about the direction of the underlying commodity.

A good example is one that Larry recommends - ZSL (ultra short silver). When you compare it with silver, you'll be amazed how quickly it loses value. I checked a one year chart and picked approximate dates when the price of silver was about the same as now. On Mar 1, May 15, Jun 30 & Nov 15, ZSL was roughly $30, 23, 20, 13 and now 10. So if you held this 11 months, you would have lost 2/3 of your money, while the price of silver was still the same. Even if you timed last year's top in silver perfectly, you would still be down today. Don't even think about the carnage if you happen to be wrong on the direction of silver!

Most advisors have clued into the fact that ultras are short term trading instruments only, but obviously Larry hasn't. Shame!