This week on Trillions, Joel and Eric record the podcast equivalent of a double-album with Barry Ritholtz, an ETF-using financial advisor as well as a Bloomberg Opinion columnist, host of the Bloomberg podcast "Masters in Business," and overall deep thinker. In addition to ETFs, the trio discusses investing, the economy, the role of the modern financial adviser, tariffs, Trump, and even God. We're calling this special body of work "Use Your Disillusion I & II," a nod to the seminal Guns N' Roses album. Why? Because - according to Barry - disillusionment is a major driver behind the rise of ETFs and passive investing.

This week on Trillions, Joel and Eric record the podcast equivalent of a double-album with Barry Ritholtz, an ETF-using financial advisor as well as a Bloomberg Opinion columnist, host of the Bloomberg podcast "Masters in Business," and overall deep thinker. In addition to ETFs, the trio discusses investing, the economy, the role of the modern financial adviser, tariffs, Trump, and even God. We're calling this special body of work "Use Your Disillusion I &amp; II," a nod to the seminal Guns N' Roses album. Why? Because - according to Barry - disillusionment is a major driver behind the rise of ETFs and passive investing.

Money goes where it’s treated best. That simple truth is a big reason why more and more money (trillions, in fact) flows into a powerful, low-cost tool that’s quietly transformed investing. Exchange-traded funds let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them—and hopefully delight you in the process.

Money goes where it&rsquo;s treated best. That simple truth is a big reason why more and more money (trillions, in fact) flows into a powerful, low-cost tool that&rsquo;s quietly transformed investing. Exchange-traded funds let you invest in everything from the stock market to gold like never before. This biweekly podcast will demystify them&mdash;and hopefully delight you in the process.

Joel Weber and Eric Balchunas demystify the world of exchange-traded funds, or ETFs.

Trillions

Barry Ritholtz: Use Your Disillusion II

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/12ad9d07-c84f-4984-b56c-ae3c00315b8c/transcript

A decade ago, Nvidia was the 387th-biggest stock in the market. Before it became the world’s most valuable company, some of the biggest active managers were buying it on the way up. In the movie Wall Street, Gordon Gekko had a code phrase for that kind of valuable tip: “Blue Horseshoe likes Anacott Steel.” Insider trading is illegal, of course. But the rise of active ETFs has created a perfectly legal way to peek at what some of the world’s biggest stock pickers are buying — every single day.

On this episode of Trillions, Eric Balchunas and Joel Weber explore “Blue Horseshoe,” a new Bloomberg Intelligence tool designed to track what “Big Active” is buying and selling. Bloomberg Intelligence’s Sharoon Francis and David Cohne join to explain how the daily transparency of active ETFs made the tool possible, how it can surface stocks while managers are still building their positions, and what names are attracting attention now. Blue Horseshoe likes Okta, anyone?

A decade ago, Nvidia was the 387th-biggest stock in the market. Before it became the world&rsquo;s most valuable company, some of the biggest active managers were buying it on the way up. In the movie Wall Street, Gordon Gekko had a code phrase for that kind of valuable tip: &ldquo;Blue Horseshoe likes Anacott Steel.&rdquo; Insider trading is illegal, of course. But the rise of active ETFs has created a perfectly legal way to peek at what some of the world&rsquo;s biggest stock pickers are buying &mdash; every single day. On this episode of Trillions, Eric Balchunas and Joel Weber explore &ldquo;Blue Horseshoe,&rdquo; a new Bloomberg Intelligence tool designed to track what &ldquo;Big Active&rdquo; is buying and selling. Bloomberg Intelligence&rsquo;s Sharoon Francis and David Cohne join to explain how the daily transparency of active ETFs made the tool possible, how it can surface stocks while managers are still building their positions, and what names are attracting attention now. Blue Horseshoe likes Okta, anyone?

Want to Find the Next Nvidia? Here’s How to Watch What ‘Big Active’ Is Buying

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2f43de9b-a224-440e-beae-b4cd013c65f7/transcript

What's a new way to invest in artificial intelligence? And what's the latest tax strategy for wealthy investors? There's no shortage of exchange-traded funds, but some of the latest launches reveal important trends — and also what fathers can learn from their sons.

In this week's New ETFs to Watch episode, Eric Balchunas and Joel Weber — joined by Bloomberg News cross-asset reporter Isabelle Lee — sift through the latest launches. They highlight the Investment House ETF (TIH) and the growing use of ETFs to defer taxes, how the Yorkville America MANGOS Plus Index ETF (FRUT) is betting on the next generation of AI winners, and whether investors really want a hedged version of Bitcoin (HBIT). They also explore Eric's negative aura.

What's a new way to invest in artificial intelligence? And what's the latest tax strategy for wealthy investors? There's no shortage of exchange-traded funds, but some of the latest launches reveal important trends &mdash; and also what fathers can learn from their sons. In this week's New ETFs to Watch episode, Eric Balchunas and Joel Weber &mdash; joined by Bloomberg News cross-asset reporter Isabelle Lee &mdash; sift through the latest launches. They highlight the Investment House ETF (TIH) and the growing use of ETFs to defer taxes, how the Yorkville America MANGOS Plus Index ETF (FRUT) is betting on the next generation of AI winners, and whether investors really want a hedged version of Bitcoin (HBIT). They also explore Eric's negative aura.

New ETFs to Watch: MANGOS, Tax Tricks and Boring Bitcoin

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/9e9aa013-813f-463b-9f33-b4c70142bb24/transcript

Today, Vanguard is synonymous with low-cost index investing. But as the firm marks 50 years since the launch of the first index fund, something surprising has happened: After decades of relentless gains, Vanguard’s share of the fund industry has plateaued. For most companies, that would be bad news. Yet Jack Bogle might have seen it differently. More than 30 years ago, Vanguard’s founder said he’d know his mission was succeeding when competitors became so cheap that Vanguard itself began losing market share.

On this episode of Trillions, Eric Balchunas and Joel Weber — joined by Bloomberg News cross-asset reporter Isabelle Lee — revisit Bogle’s legacy. They trace the unlikely rise of the index fund, why it took decades to catch on and how Vanguard’s low-cost model eventually forced the rest of Wall Street to change. They also explore what Vanguard’s plateau means now that the Bogle Effect has become so much bigger than Vanguard itself. 

Today, Vanguard is synonymous with low-cost index investing. But as the firm marks 50 years since the launch of the first index fund, something surprising has happened: After decades of relentless gains, Vanguard&rsquo;s share of the fund industry has plateaued. For most companies, that would be bad news. Yet Jack Bogle might have seen it differently. More than 30 years ago, Vanguard&rsquo;s founder said he&rsquo;d know his mission was succeeding when competitors became so cheap that Vanguard itself began losing market share. On this episode of Trillions, Eric Balchunas and Joel Weber &mdash; joined by Bloomberg News cross-asset reporter Isabelle Lee &mdash; revisit Bogle&rsquo;s legacy. They trace the unlikely rise of the index fund, why it took decades to catch on and how Vanguard&rsquo;s low-cost model eventually forced the rest of Wall Street to change. They also explore what Vanguard&rsquo;s plateau means now that the Bogle Effect has become so much bigger than Vanguard itself.&nbsp;

Vanguard’s Plateau Is Exactly What Jack Bogle Wanted

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c102bbbe-5ecf-44a7-9fa6-b4c001446fe9/transcript

Barry Ritholtz: Use Your Disillusion II

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