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FYI: John Davi has a long track record of providing macro insights for major institutional money managers. He spent 18 years working for Morgan Stanley and Merrill Lynch. Now, he’s bringing his expertise to the ETF strategist space, opening this month Astoria Portfolio Advisors, looking to bring institutional-caliber investing strategies to retail and advisor clients. Regards, Ted http://www.etf.com/sections/features-and-news/why-model-etf-portfolios-need-active-mgmt?nopaging=1