What is your main goal in trying to bring an ETF to market? Altruism? Extra personal income? Both?
First, my use of the word trying in this context is that as matter of philosophy I take nothing in life for granted. There are a lot of steps to be completed and there is no fund until there is a fund as far as how I view things. Even in the ninth inning of game four of both Red Sox World Series wins last decade (they swept the Cardinals in 2004 and the Rockies in 2007) there was no joy of winning until they won.
Part of the equation is definitely expanding our business. There is some number of people who read my content in the various places it is published. If somehow they all wanted to hire us we would not be able to accommodate the interest. A lot of people have hung with the blog for many years and while they would never hire an investment manager they might have some interest in participating anonymously through a fund at least that is part of the equation.
On a personal note I have been very fortunate in terms of the writing opening doors to some very fun things I would not have otherwise been able to do and meeting some interesting people I would have never otherwise been able to meet. I think this will be a very neat thing to do, if I thought otherwise there would be no fund.
As for any personal financial gain, an ETF needs a certain amount of assets to be viable and while I have unyielding faith in the viability I take nothing for granted. Should it be successful it would simply be another income stream which is something I have written about many times.
As far as the crack about altruism, we are not doing this for free but I think seven years of blogging almost every day for more than seven years averaging a few hundred dollar/month in ad revenue might give me some credibility to say money is not my top priority in life. Ditto my involvement with the fire department except for the add revenue and I've been doing that a little longer than I've been blogging. And if you were to ask me, I would tell you that a big part of my job description is to help clients protect and grow their assets. I also believe the writing helps some people who for whatever reason would never otherwise hire an investment manager.
12 comments:
Roger
You shouldn't have to apologize to anybody for your blog-related activities.
I've been reading your blog for most of that 7 years and have received a lot of very useful (and free!!!) advice.
Thank-you
Jim F.
Madison, Wi.
Roger,
No one is right all the time about investing. But, I agree you give great advice.
I think the etf may be very useful who like your approach, but do not have the ability to implement it themselves.
Don't worry about the snipes from some knucklehead.
Good Luck
SEG
Thank you Jim and SEG, much appreciated!
"They're one strike away...Oh my!"
I've been reading your blog for about a year now. I enjoy reading your thoughts on top-down investing in markets outside the US.
I think you have good intentions in offering advice on investing and enjoy the thought of helping others find their way in the market. And while I am mostly a plain vanilla index fund holder, I actively manage a small portion of my portfolio and would definitely consider purchasing your ETF.
Keep up the good work.
JB
I'll echo SEG's "never mind the knuckleheads." Count me among the many who truly appreciate your calm, reasoned approach within the investing world, and your colorful stories outside it. Thank you.
Your comment about the Sox reminds me of my own feelings that night in 2004. After they'd beaten the Yankees, I'd stepped onto the back patio and screamed at the top of my lungs. But when the last out was made in the Series, I sat there on the couch, silently.
It felt exactly like the time we'd brought home a massive ribeye bone from a restaurant for our old black lab, and he left it lying on the ground. He looked at it, looked up at me, looked back down, looked back up, as if to say, "Really? This is for me? You can't be serious." After reality sunk in, he enjoyed it.
great dog story, Jake, thanks for sharing it.
Roger,
I'm a retired cop (I was also a firemen for a couple of years)and am usually a pretty good judge of character. Anyone that is a volunteer firemen, champion of stray dogs, and has provided all us (at no charge) with your blog and other financial writings, is a good dude. You are appreciated!
Much success with your pending new ETF. I, for one, would be interested.
thank you Max
There still was no joy, even after the 2004 game four ended.
-- A Cardinal fan
Roger
You do not need to justify anything.
All your regular readers are aware of the effort you put into to this blog. Great advice, balanced rational thought, and a steady approach.
Posting on a blog every day takes quite a bit of time and discipline with very little return, I know because I do it also.
I am looking forward to your ETF.
Jim P
Have only been a reader for a year, but agree with everyone else about the value of your blog. Good, sensible stuff. Thanks.
RE: the ETF, is there any update on the launch?
Any ballpark idea what the fee will be?
Post a Comment