Odd Lots - Coming Soon: The ETF Story

Episode Date: October 19, 2018

The creation story of the first exchange-traded fund is actually the best way to understand how they work. And it's not just educational, it's entertaining. Like the PC and the MP3, the story of the creation of SPY -- which turned 30 this year -- is full of characters, twists and turns, and subplots. In the end, the product launched an industry that's reshaping not just investing but the entire financial ecosystem. This six-episode miniseries will weave together interviews with the founding fathers and other key players that help investors better understand the ETF and how we got here.See omnystudio.com/listener for privacy information.

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Almost like are we at the apocalypse or precipice right now? To understand the ETF, you really have to go all the way back to Black Monday and the 87 crash. How will the stock market and the economy react to the worst day ever on Wall Street? What can and should be done now? Hi, I'm Joel Weber, and this is Trillions Presents, the ETF story, or will we introducing you to the people? He was kind of all shucks almost. So between this sort of young and hungry academic type and this sort of like older figure, it was kind of a Batman and Robin type relationship. And retracing the events.

So as he tells the story, he gets back on the train and fix the three things and got on the next train to stay street. basically asked us to clear out of the room and I did. And who called the White House? I am not really a liberty to say. That eventually... So it wasn't just the idea, it was the patience involved in getting this product through. SPY, the filing, sat with the SEC for four and a half years.

The whole culture had changed. It led to the creation of a trillion-dollar industry. Can you imagine a world without the ETF? Any longer? No, probably not. Trillions presents the ETF story. Starting October 25th. You can get the news whenever you want it with Bloomberg News Now.

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