ETFs: the new stock substitute

Today, my first day back from vacation, I had an interesting meeting with Dan Dolan, who runs a group of nine exchange traded funds (ETFs), known as Select Sector SPDRs (
Amey Stone

Today, my first day back from vacation, I had an interesting meeting with Dan Dolan, who runs a group of nine exchange traded funds (ETFs), known as Select Sector SPDRs ("spiders"). Combined, these nine sector funds comprise all the stocks in the S&P 500 Index. They total $10.5 billion in assets, up from $9.4 billion at the end of 2004 and volume is up to 100 million shares traded a day.

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