Friday, 17 October 2008
not all etfs are created equal
There's an old story about Joe Kennedy hearing a shoe-shine boy giving stock tips and deciding it was time to get out of the market, shortly before the crash at the end of the 20s.
I snapped this bus advert a few weeks ago, and had a wry smile for similar reasons, when I noticed it wasn't for the latest blockbuster or a new hair shampoo.
No, it was for exchange traded funds, similar to index-tracking pooled funds reflecting performance of an index by holding a diversified basket of assets. Traded on-line, of course, with a small 'i'.
Admittedly not as simple a stock tip from a shoe-shine boy, but maybe a 2008 manifestation of a similar market mind-set.
I originally snapped it onto film and only just uploaded it. Maybe this time its already too late to sell.