Ferri is a former Marine Corps fighter pilot who spent the first decade of his career working as a retail stockbroker. In the 1990s, he came up with an idea for a low-cost portfolio based on exchange-traded funds while working at Smith Barney. He pitched the idea to the company’s chief at the time, Jamie Dimon, who shot it down. Ferri spent the next few years refining the idea and planning his own firm, which he started in 1999. He also is the author of several books, including “All About Index Funds: The Easy Way to Get Started.”
Next week, we speak with Alan Krueger, former chairman of the U.S. Council of Economic Advisers and professor of economics and public affairs at Princeton University.