One Flow Chart Shows How “Simple” ETF Trading Really Is

[Warning: sarcasm ahead] Do you know what I'm sick of? Well, let me tell you. I'm so sick of hearing about how ETFs are actually derivatives, how there's an inherent liquidity mismatch problem, how a well-behaved NAV basis in normal market conditions doesn't really say much because critics are concerned with market conditions that aren't normal, how the morning of August 24, 2015 clearly showed that the model doesn't function well when stress tested, and how ETFs are, in general, the latest e