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Barry Ritholtz: Wall Street Tries Out Lots Of Shiny New Objects
FYI: Let's begin with the sheer number of new investment vehicles that Wall Street has been creating. The widespread proliferation of products such as exchange-traded funds has “gotten out of hand,” Vanguard Group Chief Executive Officer Bill McNabb said last week at a conference in Chicago. “The industry is (introducing a new) ETF, it feels like, every 30 seconds," McNabb said earlier this year. "This is like the 1980s and mutual funds. Things did not end well for all those funds.” Regards, Ted http://www.bloomberg.com/view/articles/2016-06-21/wall-street-tries-out-lots-of-shiny-new-objects
