Have you seen these new ads running on CNBC that totally cut down Jim Cramer, the host of Mad Money?
Cramer, whom I used to work for at TheStreet.com, is a stock picker and one of CNBC’s biggest stars. So, I find it unusual to see CNBC run an ad totally ripping Cramer a new hole in his butt. What is the spot advertising? CNBC’s chief competition, the Fox Business Channel. I find it hysterical, but also very sad, that CNBC is doing so poorly, especially amidst this market crisis when viewership should be soaring, that they have to run ads promoting Fox.
My presentation at the Nasdaq on Oct. 8 was the highlight of this story in the Financial News.
Executives remain optimistic about ETFs
Cardiff de Alejo Garcia in New York
Executives who oversee exchange traded funds at asset management firms and others in the industry said they’re optimistic about the future of exchange traded funds and believe their prevalence has mitigated some of the damage from the recent market turmoil.
Speaking at a panel hosted by exchange operator Nasdaq OMX, Lawrence Carrel, author of a recent book about ETFs, said that the instruments were the direct result of the 1987 stock market crash when the Securities and Exchange Commission began searching for a basket product that could absorb some of the extreme volatility and uncertainty in the US stock market.
Carrel pointed out that in recent months, as the stock market has become increasingly volatile, ETFs have hovered at between 30% to 40% of the dollar-weighted trading volume in the US equity market.
Carrel said: “Did ETFs achieve what the SEC wanted: to absorb some of the market shock? Yes, they have lessened volatility because the baskets are being traded rather than the individual shares.”
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