It’s official: we’ve run out of ways to paraphrase ourselves when penning introductions to ETF posts.
It’s the same narrative: rampant proliferation of low-cost passive vehicles creating all kinds of distortions and embedding all kinds of hidden risks in markets. Regular readers are well-versed.
Those interested in the latest – and perhaps the most scathing – indictment to date of the ETF industry are encouraged to check out this week’s most-read post: “One Manager Warns: “Today’s Weapon Of Mass Destruction Is A 3-Letter Word: ETF.” Incidentally, that post is good for a weekend laugh thanks to our editorializing, so it’s got that going for it as well.
So yeah, we’ve been over this and over this. But beating dead horses has become a hobby of ours.
And although “posthumous equine abuse” isn’t something we’d list under “interests” if we were say, signing up for a dating site, we don’t mind engaging in it if we think doing so might drive home a particularly important point.
With that as the setup, consider the following rather remarkable visuals from a new presentation from Citi called “March Madness For ETFs”…