Today's Animal Spirits talk your book is brought to you by State Street Global Advisors.

Go to ssga.com to find their 2022 outlook for the year, which we're going to be talking about in today's show.

Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnik and Ben Carlson work for RIT Holt's Wealth Management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

and do not reflect the opinion of RIT Holt's Wealth Management.

This podcast is for informational purposes only and should not be relied upon for investment

decisions. Clients of RIT Holt's Wealth Management may maintain positions in the securities

discussed in this podcast. Yesterday, Ben Carlson, Ben Johnson tweeted of the 493 ETFs launched in 2021.

60% are actively managed. 14% track ESG indexes,

9% track thematic indexes, and 4% track factor indexes. So really, at least 87%

of the new ETF launches this year were for all intensive purposes active ETFs. Ryan Curlin from

Alcatel Architect, quoted tweeted and said, not early innings anymore, beta is built.

I guess it's almost surprising that it took this long for it to happen.

Which part active managers holding out so long to get into the ETF game and just milking

mutual funds as much as they could without realizing that ETFs are a completely better

mouth trap for an active strategy, right? Yes, there was a chart floating around recently that showed

the cumulative number of ETFs and it's just like literally straight up into the right.

At what point does that start to plateau? We've got to be kind of close.

Although we had a record, was it a record number of launches this year? We spoke about this with

Matt Bartolini on the show in a few seconds. I just can't remember.

...