“There are some things people shouldn't worry about,” Buffett said. “This is one.”
It’s a boon for active managers who’ve watched trillions flow out of mutual funds and into ETFs over the last decade.
The SEC says it plans to approve active non-transparent ETFs from four firms.
Fisher Investments has quietly come to dominate more than a quarter of the $22 billion market in ETNs.
Bond traders at some of the world’s largest banks have more than $50 billion riding on the success of the exchange-traded fund market.
They act as gatekeepers for every dollar that enters or exits an ETF.
The ETF industry gets a major win after long complaining about the wait period for SEC sign-off on new funds.
Unlike conventional ETFs tracking indexes, these funds would keep some of their holdings hidden.
The mishap raises questions about how ETF managers monitor the indexes that underlie their portfolios.
Almost $18 billion fled U.S.-listed equity ETFs during the past three weeks.
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