ETFM, Hot New Security on Wall Street
b'With Matt Levine, Financial Columnist \\u2013 Bloomberg View
Wall Street loves to come up with new financial products \\u2013 especially those that line bankers\\u2019 pockets at the expense of others. But, once in a while, they do come up with something of value to others\\u2026 such as an ETF, or Exchange Traded Fund, that delivered advantages over traditional mutual funds. And now, there\\u2019s a new financial security \\u2013 an Exchange Traded Mutual Fund (ETFM) called NextShares that\\u2019s been pioneered by the folks at Eaton Vance. An ETMF bridges an ETF with a mutual fund and has several tax, trading and administrative cost advantages, which Matt lays out in an easy-to-understand manner.'