Acknowledgments

There are hundreds of people I have met during my four decades on Wall Street who have taught and counseled me in more ways than I can count. It would be impossible to recognize all of them. For the past seven years, I have been privileged to be a participant in the Exchange Traded Fund (ETF) revolution that has taken place in the market. ETFs have amassed $1 trillion in assets as of March 2010, up from barely $100 billion just seven years ago. ETFs will be a critical capital market tool from now on, and I wish to thank those who helped put me in a front row seat.

Tony Dudzinski, who cofounded XShares with me, was the first person to teach me about ETFs and to this day I have not met anyone more knowledgeable than him. Sam Katz, ...

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