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from the is-marijuana-shipped-in-reefers? dept.
As reported by CNBC, on Oct. 27, ETF Managers Group filed for a new ETF, the Alternative Agroscience ETF. This ETF will mimic an index as closely as possible that tracks cannabis cultivators, producers and distributors, cannabinoid drugmakers, fertilizer producers, and tobacco companies.
But there's an interesting catch behind its "inception." The Alternative Agroscience ETF won't really be a new ETF at all. ETF Managers Group is switching the focus and tracking index of an existing ETF, the Tierra XP Latin America Real Estate ETF (NYSEMKT: LARE), which tracks the Solactive benchmark of real estate in Mexico and Brazil, to an ETF that predominantly follows cannabis companies.
[...] According to a Securities and Exchange Commission filing, the switch to a cannabis-based index will occur on Dec. 26, so there's still a few weeks to go before investors will have an ETF that truly tracks marijuana stocks.
What is an ETF? "An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold. ETFs typically have higher daily liquidity and lower fees than mutual fund shares, making them an attractive alternative for individual investors."
https://www.investopedia.com/terms/e/etf.asp
(Score: 0) by Anonymous Coward on Saturday November 25 2017, @07:59PM
The supreme court decision that granted partial personhood to businesses was a disaster. Businesses get the upsides, but they face few of the downsides. They don't register for the draft. They don't risk execution for their crimes. Businesses are fundamentally not people and are not deserving of rights like free speech, yet here we are.
The "important quality cue" is what needs to be wiped out. Products that don't meet a minimum standard can be subject to recall or even class action lawsuits. That supposed "important quality cue" is what allows people to be susceptible to advertising. Most often there is no real quality issue at stake; it's all just fictional nonsense created by a marketing department and their ad agency.
Heck, it's even trouble for non-harmful products. We are constantly being spammed, even in the physical world. The average business doesn't even benefit; they must participate in the arms race because everybody else is doing so.