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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 Ritholds Wealth Management.

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and do not reflect the opinion of Ritholds Wealth Management. This podcast is for informational

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discussed in this podcast. Ben, we just got done talking to Bruce Bond.

I think for the third or fourth time? Probably more like fifth or sixth time.

Is it? We've had a mind quite a bit. I don't even know what year it is.

Yes. Bruce is one of the original talker book guests and he's been on many times.

Great guy. Always put a smile on her face. Very sharp. He's been in the round

a long time of ETF business as well. Bruce is the founder of PowerShare's ETFs,

the fourth largest ETF provider in the world. He has seen some things and actually we ended

it with a comment on how remarkable it is, how far ETFs have come. I don't know how long it took

for mainstream adoption to accept and understand ETFs. Actually, when we started talking about ETFs,

like in 2013, there were still a big learning curve. What is this creation redemption? I don't

understand how this whole works. Anyway, the fact that you can put these sort of

structured products. Exotic option ETFs. Yeah, it's super cool. I think that they've

obviously done an amazing job educating the advisor force because I'm guessing that 90%

of their flow has come from advisors and a little bit of DIYers. But this is pretty much

...