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barclays

Just doing some thinking about the growth and future of the ETF industry: In my eyes, ETFs began as a second-generation of mutual funds with the following characteristics: Passively managed: ETFs were passively managed (though that’s changing), building upon Jack Bogle’s success at Vanguard.  Most research at the time clung to the Efficient Market Hypothesis [...]

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Only firms that have significant scale, or those that are small enough to be niche providers with differentiated product strategies, will be able to thrive in this new world. (kasina) Open source financial modeling: We remain somewhat skeptical that professional investors and analysts will be eager to share their proprietary models in this manner. (Integrity [...]

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