“Most of my friends thought that I was an idiot, basically, to start the business,” he says, casting his mind back to the late 2000s when he was also dealing with a new baby at home.
The scepticism and, at times, outright derision for ETFs lingered in the years after Vynokur left Turnbull Pillemer Capital. But 10 years on, he is happy to let the numbers do the talking. Next month marks the 20 year anniversary since the launch of the first Australian ETF: State Street’s SPDR S&P/ASX 50 and S&P/ASX 200 funds.Both are among 220 listed exchange-traded products tracking a range of indices, sectors, commodity, cash and bond markets around the globe.
“But I think it’s becoming very clear that generations of Australians from now on are really, really going to struggle to go into the property market. While not singling any particular operator out, Vynokur is keen to note that ETFs are cashing in on underperforming fundies.
AlexDruuuce and the voting population into gullible fools