Coming Soon: The ETF Story

Joe Weisenthal (0:00)

Can you just walk me through sort of your thoughts on what happened on Black Monday?

Tracy Alloway (0:04)

How long do you have?

Joel Weber (0:08)

Almost like are we at the apocalypse or precipice right now.

Joe Weisenthal (0:11)

To understand the ETF, you really have to go all the way back to Black Monday and the 87 crash.

Tracy Alloway (0:17)

How will the stock market and the economy react to the worst day ever on Wall Street? What can and should be done now?

Joel Weber (0:26)

Hi, I'm Joel Weber, and this is Trillions Presents, the ETF story where we'll be introducing you to the people.

SPEAKER_4 (0:33)

He was kind of all shucks almost.

Joe Weisenthal (0:36)

So between the sort of young and hungry academic type and this sort of like older figure, it was kind of a Batman and Robin type relationship.

Joel Weber (0:44)

And retracing the events.

SPEAKER_4 (0:46)

So as he tells the story, he gets back on the train and fixed the three things, and got on the next train to State Street.

Joel Weber (0:54)

Basically, he asked us to clear out of the room.

Tracy Alloway (0:56)

And I did.

Joel Weber (0:58)

And who called the White House? I am not really at liberty to say. That eventually...

Joe Weisenthal (1:04)

So it wasn't just the idea, it was the patience involved in getting this product through. SPY, the filing, sat with the SEC for four and a half years.

The whole culture had changed.

Joel Weber (1:15)

Led to the creation of a trillion dollar industry. Can you imagine a world without the ETF?

SPEAKER_4 (1:22)

Any longer? No, probably not.

Joel Weber (1:27)

Trillions presents the ETF story. Starting October 25th.