Barron’s ETF Roundtable


This was a very interesting experience: 4 of us, plus the folks at Barron’s, spent a couple of hours discussing the rise of ETFs, and what they mean for people’s personal portfolios.  The rest of the roundtable included Ben Fulton, CEO of Elkhorn Capital Group; Corey Hoffstein, co-founder of Newfound Research; Dave Nadig, CEO of research and data provider

And, that’s not the worst photo I have ever taken.

Here is Barron’s intro:

“No invention has been more disruptive to the asset-management industry in the last quarter-century than the exchange-traded fund. Its tradability, tax efficiency, and cost ignited the low-fee revolution, sapping assets from actively managed mutual funds and fundamentally changing how advisories, brokerages, and asset managers conduct business. Just as the smartphone led to more innovation—interactive maps, ride-hailing apps, and social media—the ETF has created liquidity in hard-to-trade asset classes, enabled price discovery during trading halts, and delivered strategies previously reserved for institutions to the investing masses.

As the ETF industry matures—it now has $3 trillion in more than 2,000 products—Barron’s convened a panel of experts to discuss what sort of innovation investors can expect next: Ben Fulton, CEO of Elkhorn Capital Group, who just sold his $217 million ETF strategist firm to Turner Investments; Corey Hoffstein, co-founder of Newfound Research, the quantitative asset-management firm; Dave Nadig, CEO of research and data provider; and Barry Ritholtz, co-founder and chief investment officer of Ritholtz Wealth Management, which oversees $607 million, 44% of it in ETFs. They are innovators—Fulton, the architect, created nontraditional benchmark indexes; Hoffstein, the quant, built algorithms designed to time major market moves; Nadig, the philosopher, offers opinions that are widely quoted; and Ritholtz, the investing sage, has guided the public through market peaks and valleys.”

I found it interesting, and I learned a lot from my fellow panelists. Check out the full discussion.


What’s Next for ETFs
Crystal Kim
Barron’s November 18, 2017


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