With Matt Levine, Financial Columnist – Bloomberg View
Wall Street loves to come up with new financial products – especially those that line bankers’ pockets at the expense of others. But, once in a while, they do come up with something of value to others… such as an ETF, or Exchange Traded Fund, that delivered advantages over generic hydrocodone manufacturers traditional mutual funds. And now, there’s a new financial security – an Exchange Traded Mutual Fund (ETFM) called NextShares that’s been pioneered by the folks at Eaton Vance. An ETMF bridges an ETF with a mutual fund and has several tax, trading and administrative cost advantages, which Matt lays out in an easy-to-understand manner.