FYI: Billionaire Ken Fisher made his name and fortune picking stocks. But over the years he’s also become a huge player in an arcane -- and controversial -- corner of Wall Street: exchange-traded notes.
With little fanfare, his Fisher Investments has come to dominate more than a quarter of the $22 billion market in ETNs, whose outsize risks and hefty costs have drawn scrutiny from federal regulators. ETNs are debt instruments issued by banks that can enable investors to make leveraged bets on investments including stocks, bonds and commodities.
Regards,
Ted
https://www.bloomberg.com//news/articles/2019-11-08/ken-fisher-has-a-side-bet-on-a-risky-corner-of-wall-street?srnd=markets-vp
