Trillions

David Papadopolous, an Executive Editor at Bloomberg News, joins Denitsa Tsekova, a cross-asset reporter and ETF commentator. They dive into the explosive world of ETFs, spotlighting innovative pitches. Denitsa champions a high-yield dividend ETF, emphasizing tax efficiency and steady inflows. Papadopolous shares his subjective rankings on various ETFs, including pitches for meme stocks and humanoid robotics. The conversation unveils trends, potential juggernauts, and the quirks of the ETF landscape.

In this discussion, Matt Kaufman, Head of ETFs at Calamos Investments, uncovers the intriguing world of autocallable ETFs. He explains how these bond-like notes linked to equity markets provide a high monthly income of around 14%. Matt also walks through the mechanics of how these notes work and the innovative methods Calamos uses to build a diversified ETF strategy. He shares insights on market risks and the unique benefits of using swaps to enhance efficiency while discussing who might benefit from including these structured products in their portfolios.

Join Jeremy Schwartz, Chief Investment Officer at WisdomTree, as he dives into Japan's shifting political landscape with the election of Sanae Takaichi, the country’s first female prime minister. Schwartz discusses Japan's promising investment outlook, driven by currency hedging and dynamic market conditions. He highlights Warren Buffett's impact on Japanese investments and the importance of Japan's tech contributions amidst global growth. Lastly, Schwartz addresses the implications of Japan's high debt and the evolving strategies of WisdomTree’s ETFs.

Bernard Goyder, a Bloomberg options and volatility reporter, dives deep into the world of hedging strategies in this engaging discussion. He explains the intricacies of the VIX and the pitfalls of VIX ETFs, highlighting their potential for high returns alongside significant risks. The conversation also covers simpler personal finance strategies as alternatives, and the appeal of buffer ETFs, especially for retirees seeking downside protection. Goyder wraps up with practical advice on navigating these complex financial instruments.

Nick Maggiulli, Chief Operating Officer at Ritholtz Wealth Management and author of The Wealth Ladder, delves into the evolving landscape of wealth-building. He explores the diminishing value of money, breaking down how $10,000 versus $1 million impacts lives differently. Discussing the six wealth levels, Nick reveals how market dynamics shape net worth. He champions low-cost ETFs and income-producing assets as essential for investing. For those on their financial journeys, he offers actionable steps to navigate the wealth ladder effectively.

Young investors are shifting their focus from traditional jobs to income-generating ETFs, seeking wealth through innovative financial products. With yields ranging from 2% to an eye-popping 200%, these funds have exploded in popularity, fueled by social media influencers. The allure of regular payouts empowers Gen Z, prompting them to reassess retirement strategies and pursue immediate cash flow. As they navigate this complex landscape, understanding the trade-offs becomes essential in their quest for financial freedom.

 A relentless barrage of headlines in recent weeks have all centered on exchange-traded funds. For the first time, there are now more ETFs than stocks (4,300 versus 4,200). Also of note, ETFs have also become prized listings for exchanges—perhaps even more than IPOs—because they trade so much. On this episode of Trillions, Eric Balchunas and Joel Weber speak with Dave Nadig, president and director of research at ETF.com, and Athanasios Psarofagis, an analyst with Bloomberg Intelligence. They discuss those stories as well those on passive ownership's increasing complexity; a different way to think about the Magnificent Seven; Vanguard's push into active management; Wall Street not seeing a need for tokenization; and the irony of European ESG equity funds having exposure to the nuclear arms industry.See omnystudio.com/listener for privacy information.

In this discussion, Matt Hougan, CIO of Bitwise Asset Management and a former ETF analyst, shares his insights on the booming Ether ETFs, which have recently reached a staggering $10 billion in record time. They delve into Ether’s recent price surge, the implications of its rising popularity for the crypto market, and how it compares to Bitcoin's established role. The panel also explores the distinct purposes of Bitcoin and Ethereum, the emergence of stablecoins, and the competitive landscape of blockchain technologies, offering a fresh perspective on investing in cryptocurrencies.

George Gatch, CEO of JPMorgan Asset Management, discusses how his firm has dominated the active ETF market, rising to become the fourth largest active fund company in the US. He reveals the innovative strategies behind successful products like JEPI and JPST amid a challenging landscape for active funds. Gatch also shares insights on the promising fixed-income space, the growing interest in private markets, and his cautious stance on cryptocurrency. The conversation provides a unique glimpse into the future of ETFs and JPMorgan's role in shaping it.

Athanasios Psarofagis, an ETF analyst at Bloomberg Intelligence, joins the discussion to provide insights into the world of ETFs. He and the hosts tackle the upcoming ETF share-class approvals and their tax benefits. The conversation also delves into the promise and limitations of asset tokenization, comparing traditional ETFs with tokenized stocks. They'll cover how profitability differs in ETFs, the potential fate of crypto ETFs, and why Vanguard's S&P 500 ETF remains a stronghold. The trio predicts the future evolution of ETFs over the next decade.