ETF Innovator on the Future of Passive Investing

Featuring Kathleen Moriarty

Kathleen Moriarty, known as “SPDR Woman” for her role in building the legal framework behind world’s first and largest ETF, SPY, talks with us about the future of passive investing. Moriarty gives us a behind-the-scenes look at the challenges she faced when launching the first gold ETF, GLD, and how it compared to her work with the Winklevoss twins on their application for a bitcoin ETF. Filmed on March 5th, 2018.

Published on
9 March, 2018
Topic
ETF, Career, Bitcoin
Duration
43 minutes
Asset class
Equities
Rating
38

Comments

  • JO

    JOHN O.

    22 3 2018 21:11

    2       0

    Good interview. I agree with those that suggest the use of more open end questions. There is so much more ground to cover on this subject.

    Some of the questions however, seemed a bit leading as if the interviewer was trying to support a thesis that ETFs are not good investment vehicles. Let's not forget that it wasn't the ETF's that were the cause of the problem in August. It was the fact that many of the underlying equities did not open. How to strike a NAV if 20% of your underlying are reporting "NA" for a price. I guess the exchange could have prevented the ETFs from opening as well but that probably would have ticked off people more. But I digress....

    Very informative interview however. I continue to be impressed with the guests you guys are able to bring to us on a day to day basis.

  • RS

    Ryan S.

    14 3 2018 13:12

    4       0

    Great interviewer

  • EF

    Eric F.

    13 3 2018 13:46

    5       1

    Be good to ask some more open ended questions to let the person being interviewed expand on answers. Not a criticism but I do think some of the answers were too short and it maybe required a bit more work to open up. Just felt like some untapped potential left in this interview.

  • RA

    Robert A.

    11 3 2018 21:55

    2       0

    Some basic “simple” legal stuff on regular etfs, commodity etfs, etf Tax differentiation for collectibles, Bitcoin etf potential and ICO etf regulatory hurdles presented in an easy to comprehend format—vintage RV at it’s best. Right or wrong I did a “Fire, AIM, Ready” purchase of Bitcoins in December 2015 and am humbled to say that I learned way too much in this video that I clearly should have known before I jumped in.

    Major takeaway=
    Using the GLD template...whenever/if a BC etf happens there will be a BC price surge based upon the entrance of MANY retail BC purchasers who are just waiting for the patina of regulatory approval.

  • VP

    Vincent P.

    11 3 2018 00:35

    2       0

    Well done! Good background information and also clues for what's ahead.

  • RM

    Ronnie M.

    10 3 2018 15:55

    2       0

    Kathleen is right that markets are risky and people aren’t rational, but structurally certain holdings of ETFs (for example, bonds) are going to be pretty illiquid with the volatility we likely will e

  • RI

    R I.

    10 3 2018 04:34

    2       0

    De ja vu: https://finance.yahoo.com/video/needs-happen-bitcoin-etf-approval-220501356.html

  • RI

    R I.

    10 3 2018 04:33

    1       0

    This interview reminded me of this one I saw on yahoo finance a month ago: https://finance.yahoo.com/video/needs-happen-bitcoin-etf-approval-220501356.html

  • IO

    Igor O.

    9 3 2018 17:48

    0       0

    That's a real inside on bitcoin ETF. Thanks.

  • TS

    Tyler S.

    9 3 2018 17:23

    1       8

    Please do NOT use a slider in your shots unless you know how to use it.

  • PB

    Pieter B.

    9 3 2018 16:25

    36       3

    I like to add that I think Justine is a superb interviewer! It was really easy to follow with your well-structured & in-depth questions!

  • PB

    Pieter B.

    9 3 2018 15:50

    6       1

    Awesome interview! Great value and fun to watch! Great to see how the SPY started and where passion and innovation can lead to!

  • RM

    Richard M.

    9 3 2018 14:54

    5       1

    Fascinating historical examination of the SPY creation (and GLD). Great interview by both interviewer and interviewee!

  • TE

    Tito E.

    9 3 2018 14:31

    4       1

    complication makes work for lawyers

  • TS

    Tyler S.

    9 3 2018 13:52

    3       1

    Why would Kathleen Moriarty admit that the devil is in the details, her sole purpose in life is to wordsmith perspectives..

  • TS

    Tyler S.

    9 3 2018 13:37

    1       9

    too washed-out, need to fix the lighting and make it more comfortable for the talent.

  • PU

    Peter U.

    9 3 2018 11:32

    12       5

    Good job. The interviewer should be in the movies!