Matt Levine, Columnist

ETFs and U5s

Also market data, reinsurance, seating charts, 'Business Adventures' and unicorn incest.

November 4, 2016 at 1:16 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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ETFs and hedge funds.

I was once talking to an exchange-traded fund provider and I suggested what I thought was a clever idea to slightly juice the performance of an index ETF. (I was probably wrong, but never mind that.) She did not seem interested, and I was a bit surprised. If the index returns 8 percent, and your fund returns 8 percent, that's great, but if you return 8.1 percent, isn't that better?