ETF's-It Had To Happen Sometime.

Remember that I believe ETF's represent a paradigm shift in how investing in the market will be done in this century. Apparently others feel the same way. There is a stampede now to bring new ETF's to market. I read today that there are close to 300 ETFs now in registration with the SEC. According to "Seeking Alpha" Rydex has filed for 96, ProShares 66, Wisdom Tree 60, PowerShares 35.

It is likely that a good number of these will have some investment merit. Yet it is hard to imagine that there isn't a significant amount of replication, index creation-The process where an issuer makes up an index first and then creates the ETF to track it and just plain stinkers lurking in the group.

Why so many? Follow the money! Every issuer on Wall Street wants to get in the game to earn the passive fee income that ETF's bring them. Fortunately we are the winners in all this because we have the luxury to sit back and watch how these trade and the investment merits of each. If they have merit money will flow into them and our systems will pick that up.