Is the Wonderful Wizard of Oz really a tale of U.S monetary policy? Silver slippers, before they were ruby, on a golden road to Emerald City (Washington D.C.). Frank L Baum created his allegorical book at a time the United States was fiercely debating the merits of a two-metal monetary system. Find out who all of the Oz characters represent. From the Cowardly Lion to the Wicked Witch of the East, the Federal Reserve Bank of Cleveland has created a wonderful short book that explains it all. View this book here.
"Over the past 23 years, ETFs have been changing the landscape of investing. Now a confluence of events is likely to accelerate the growth of the global assets invested in ETFs to $10 trillion in roughly five years from the $3 trillion invested in ETFs today." This statement, from Bank of New York Mellon's recent report titled Accelerating Growth:The Department of LaborConflict of Interest Rule and it's Impact on the ETF Industry, reflects the writers opinion that the new DOL Fiduciary Rule will fuel continued growth of Exchange Traded Funds.
I couldn't agree more. As an advisor with over 14 years of experience in developing and managing diversified ETF portfolios, I believe these are investment vehicles that help meet the demands of transparency and low-cost the DOL Rule outlines.This report provides the Rule's basic requirements and the solution ETFs can provide.You can read the report here. Or, you can check out an overview in an article by the reports co-authour - ETF Trends - here
Money market reforms will take effect on October 16th. Most of the changes are focused on institutional money market funds which will now have a floating Net Asset Value (NAV), but retail investor funds are seeing underlying shifts as well. Get a quick overview of these reforms and four important facts to know, here.