Trillions

It was nothing short of a spectacular year for the U.S. stock market. Oh, and fixed income. And emerging markets. And gold. Basically everything went up — even if it didn’t necessarily feel that way. But why exactly? And what might next year hold for investors? How crucial is the Fed? The election? So many questions...On this episode of Trillions we talk all things markets with Michael Regan and Sarah Ponczek from one of our favorite fellow Bloomberg podcasts called “What Goes Up?” in what may be the greatest crossover event since the Harlem Globetrotters landed on Gilligan’s Island. See omnystudio.com/listener for privacy information.

Just as a maker of organic salad dressing wants to get into Whole Foods, every ETF issuer is trying to get its products distributed by the fund superstores. Known as wirehouses by the industry, these mega-platforms from the likes of Bank of America, Wells Fargo and Morgan Stanley service advisors with trillions in assets -- and can transform an ETF from zero to hero overnight. But only a minority of funds make it to their shelves. So how does an ETF get on these crucial platforms? By getting through the all-important gatekeeper. On this week's Trillions, we chat with Mariana Bush of Wells Fargo and Jon Maier of Global X about their extensive experience in this world of gatekeepers and keymasters. Rachel Evans of Bloomberg News co-hosts. See omnystudio.com/listener for privacy information.

ETFs compete with just about everything, including mutual funds, options, derivatives, and even single security investing. Another competitor is direct indexing, which means investing in a customized portfolio directly -- bypassing the fund's "wrapper" altogether. On this week’s Trillions, Joel and Eric sit down with Brian Langstraat, the CEO of Parametric, the largest direct indexing provider. He explains what direct indexing is, who it's best for, what the benefits and drawbacks are, and why it isn’t really an “ETF killer,” as some have claimed. Morgan Barna of Bloomberg Intelligence joins the discussion as well.See omnystudio.com/listener for privacy information.

Despite -99% returns, burning through billions, and the occasional controversy, exchange-traded products (ETPs) that track a volatility index called the VIX are flirting with record flows and volume this year thanks to a loyal audience of traders who love their jackpot potential. On this episode of Trillions, Greg King, who was behind some of the most popular products before founding Rex Shares, and Luke Kawa of Bloomberg News, who often writes about volatility, join Joel and Eric for the ultimate power-tool discussion. The group gives an overview of what investors need to know about the products, how they gained some infamy with the 2018 termination of XIV, and some developments to look out for.See omnystudio.com/listener for privacy information.

Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6.See omnystudio.com/listener for privacy information.

Would you give up some stock market upside for some downside protection? That's the value proposition for a fast growing new category of annuity-like ETFs that do just that. They are the creation of ETF veteran Bruce Bond, who is known to many as the founder of PowerShares. On this week's Trillions we speak with Bruce as well as Carolina Wilson from Bloomberg News about what sparked the idea for the products, how they work and what the drawbacks are. See omnystudio.com/listener for privacy information.

For years active mutual funds have been looking for a way to utilize the benefits of the ETF structure without having to show their holdings every day. They may have finally found a solution, but will it be enough?Joel and Eric are joined by Dan McCabe of Precidian Investments and Rachel Evans of Bloomberg News, who wrote about McCabe's non-transparent active ETF structure in the latest issue of Bloomberg Markets magazine. McCabe, who's licensing his structure to the likes of BlackRock, JP Morgan and Goldman Sachs, discusses how this decade-in-the-making development came to pass and the benefit it might provide investors while addressing industry headwinds and competition. Eric, Joel, and Rachel begin the episode with a brief discussion of Schwab's move to eliminate commissions -- the latest flare-up in the ETF trading war -- as well the new ETF Rule the SEC finalized last week. See omnystudio.com/listener for privacy information.

One of the main drivers behind the rise of ETFs and index funds is the fast-changing world of wealth management. RIAs have always been the early adopters of ETFs and remain big users today. On this episode of Trillions, we explore their world via a new conference by advisors for advisors called WealthStack. These are not your father's stock brokers but rather a younger, more casual, fiduciary-minded, tech driven group of wealth managers looking to stay ahead of the curve. We interviewed about a dozen attendees on topics such as the future of advice, ETFs, social media, concerns over passive, technology and direct indexing. See omnystudio.com/listener for privacy information.

Multi-factor ETFs are one of the fastest growing ETF categories. But what exactly do they do? Is the sum more than all the parts? Are they active or passive? These are the questions Bloomberg News' Annie Massa sought to answer at the recent Inside Smart-Beta conference. In this special field report for Trillions, Annie interviews analysts, advisors and issuers to get to the bottom of the multi-factor trend.See omnystudio.com/listener for privacy information.

On this new season of Prognosis, we look at the spread of infections that are resistant to antimicrobial medicines. You're probably more likely to have heard of these as superbugs. Their rise has been described as a silent tsunami of catastrophic proportions. We travel to countries on the frontline of the crisis, and explore how hospitals and doctors around the world are fighting back. Prognosis’ new season launches Sept. 5. See omnystudio.com/listener for privacy information.