Okay, hi, this is downtown Josh Brown. I'm here with Michael Batnick as usual. We're gonna play our favorite game. What are your thoughts? I don't know what Mike's gonna ask me about and he doesn't know what I'm to ask him about. Why are you shouting?

I'm so excited.

Duncan, hit the music.

I want to talk about this thing that Balchunis wrote.

So Eric Balchunis is the E.T.

The E.F. reporter at Bloomberg.

And he did a thing about how this year a thousand EDFs were

killed or put out of their misery by the fun company that had launched them and

there are still four to five hundred EDFs, you know, that are barely collecting assets around.

Should that be like scary to investors if they buy an EDF and it gets shut down or should they just say all right this one didn't work out onto the next like how should we feel about that many exchange traded products dying in one year?

Hmm I don't really have strong feelings on this.

Like, is it a, I mean it's sort of a non-issue in my mind.

Like, what do you mean exactly?

I don't know that it's a non-issue if you have a portfolio and you're holding these things nobody

has a portfolio of zombie EDFs well you probably don't have more than one but

everyone probably has a few and it's probably a very small piece of your portfolio

anyhow right because they're probably like these niche EDFs like, whatever, pick something

stupid.

So Eric is saying that this is actually an example of the market working and capitalism working in the E. T. F. space like things that should die are put out of their misery just like any other failing business enterprise or unpopular products.

I'll wait for a billionaire to weigh in before I give my opinion.

A billionaire to weigh on an E. T.F. Closures?

On the capitalism and E.T.F. land.

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