What marketing genius thought that Exchange Traded Fund (ETF) was a good name for the investment product that is attracting billions of dollars of new money every month? After all, we don’t call mutual funds “MFs” do we?
According to Russell Wild, in his book Exchange-Traded Funds For Dummies, the marketing team at the Toronto Stock Exchange came up with the idea of ETFs as a way to drive trading volume.
That is one piece of trivia among many in Wild’s easy introduction to the Exchange Traded Fund – ETF world. Wild provides a wide ranging and practical discussion on the use of ETFs as a low cost, diversified approach to long term investing and a very viable alternative to mutual funds.
The unadvertised bonus feature of the book is Wild’s valuable investing wisdom as a NAPFA certified financial advisor. We don’t agree with every piece of advice that he gives – after all, he does provide 300 pages of guidance. However, the vast majority of Wild’s money management coaching is in line with best practices in the industry and well worth review.
We highly recommend Exchange-Traded Funds for Dummies for anyone interested in learning more about ETFs.