I am amazed at the rapid growth of ETFs as assets and the growth of so many different strategies. It is now possible for individual investors to mimic certain hedge funds using ETFs. They are the best thing to hit the financial market ever in my opinion.

It will be interesting to see how mutual fund companies try to combat these funds. I would say they are in panic. At the very least, ETFs will cause fund fees to decline further. It is hard to believe the total fees for mutual funds are still so high.