David Rosenthal: evaluation

Transcript context

…Yep. So Jack hates that. He also hates that because these funds will now be traded on an exchange, it means that you can short sell them. And he thinks this will just be like an absolute disaster for the financial industry. You know, and hey, look, like I would definitely not recommend going and short selling the S&P 500. That has historically been a losing game in the long run. But look, this is a product people want, and shorting indexes like the S&P 500 is like a core part of many hedge funds' strategies today. This is an idea whose time had come with all the good and all the bad, and it needed to exist. So Jack turns it down and not just turns it down, but like he hates the concept of ETFs. Nathan goes on to launch the world's first ETF with a new asset management division of an old Boston bank named State Street. And you've probably heard the State Street name today. You might have heard of the SPDR- The SPDR.…

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