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Dave Nadig
2:59
Howdy folks, welcome to ETF.com Live!  I'll be your host, Dave Nadig.
3:00
As always you can enter in your questions in the box below, and I'll get to as many as I can in the next half hour or so.
We'll post a transcript up shortly after we're done in case you miss anything.  With that, let's roll!
Jackie W.
3:00
Are you a CFA? Or play one on TV? :)
Dave Nadig
3:00
Funny.  But no, I am not a CFA.  I am a lowly MBA.  I considered getting my CFA about 10 years ago when I was hiring a lot of them.
3:01
But the honest truth is -- it's hard to imagine finding the time.  the CFA is a HARD standard.  I have enormous respect for it, and consider it strongly when hiring folks.
(I did write the CFA's ETF curriculum and book though, if that counts for anything ... grin).
Heidi Watley
3:01
Biggest shopping season of the year in full swing. Are there any retail ETFs?
Dave Nadig
3:01
Hi Heidi! Yes indeed.  Here's the list:
3:02
Of those, the one I think is kind of sweetspot if you're making that (admittedly speculative) play would be IBUY.
The weighting scheme does a nice job of keeping it from just being "the Amazon ETF"
3:03
I also like that it's not strictly US (although its dominated by the U.S.).
It's a little bit pricey but I think it does the job.
Peter Brady
3:03
From a market maker's perspective, how does inventory affect their quote for a low-volume ETF that is easily hedged?  I would think an inventory greater than 1/2 of a unit would lead to more attractive bid prices, and vice versa.  Or are create/redeem costs, on average, limit profits too much?  Am I thinking about this wrong?
Dave Nadig
3:03
Nice nerdy question
3:04
You are essentially correct.  If a market maker has been accumulating XYZ in 300 share lots all day and is now sitting on 25,000 shares long, he will definately be on the inside of the market trying to get rid of those shares...
The goal for every market maker and AP is to go out in cash, and if not in cash, fully hedged
3:05
So inventory has the same impact on pricing in an ETF trade as it does on leftover He-Man toys at WalMart.  They get "marked down" a little bit to whichever side they need to get flat.
Jerry
3:05
Best marijuana ETF? Any recommendation?
Dave Nadig
3:06
Well, "Best" is relative here.
there really is only one U.S. listed pure play, MJ.
3:07
There is a new one that just filed:
But its not out yet.
In general, the caution here is that your investing in small cap canadian agriculture in a hugely headline-sensitive sector.
You want to be sure you want ALL of those things: canada, ag, and headlines.
Im oversimplifying, but I do worry about people just piling in without thinking it through.
3:08
I think there are some real long term winners in the space, but I'm not sure buyign all of them right now is the magic way to win.
Todd Rosenbluth - CFRA research
3:08
H Dave. Lots of great content this week on new ETFs on ETF.com Anything that has not yet gathered assets you think will gain in popularity as market has become more volatile.
Dave Nadig
3:08
Hi Todd!
3:09
In looking through the list of launches this year, I have to say I am still intrigued by the Defined Outcome etfs from Innovator (BOCT/UOCT etc...).
I feel a bit like a broken record on those things, but I think they're very clever and solve a real problem.
They haven't caught on fire yet, but I think in a year we'll look back and see they did just what they promissed, and investors will notice.
downside protection is a serious investor demand.  and hard to deliver.
Danny Smythe
3:10
What literally is a "roboadvisor"? It conjures up a strange visual. Any measurable benefits over using a human advisor? Do/would you use one?
Dave Nadig
3:10
So, I prefer the term "Automated Investment Service" but you can see why that will never catch on.
Essentially, you fill out a survey on a website or app, it measures your risk tolerance, time line, and objectives, and recommends a portfolio, generally of ETFs.
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