Has the ETF industry hit its peak, or at least peak ridiculousness?
The launch of the Global X Millennials Thematic ETF in May inspired much derision. But the recent proliferation of thematic ETFs is “a sign of a tech-like boom in the ETF industry,” a bid to stand out in an crowded field without joining the Vanguard- and Schwab-dominated race to the bottom on fees, Eric Balchunas of Bloomberg writes.
Meanwhile, Michael Batnick of Ritholtz Wealth Management had an awkward office-behavior situation, and George Pearkes of Bespoke Investment Group pondered whether Drake could be richer than oil magnate T. Boone Pickens.
On General Economic Topics:
Republican primary wrapped up before Democrats
7-yr bull market in slow economy
QE forever leads to $1.80 gasoline
Predicting is hard
— Morgan Housel (@TMFHousel) May 9, 2016
4/ So if Ed Thorp, Jim Simons, and Ray Dalio can’t crack a Sharpe of 2, what makes you think the mutual fund sending you spam emails can?
— Meb Faber (@MebFaber) May 17, 2016