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 ("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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.