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" ... Here is the anatomy of an impressive victory for Trump. Among the 40% who said they are angry with the federal government, 42% to 25% Trump over Cruz. Among those who said they wanted change, 43% for Trump, 21% for Cruz. Among the three in four who said they were evangelical, Trump 31% to Cruz 27%. How does anyone else in the GOP race find any room to run and win? As I said before we will not find out until the race winnows down. ... "
" ... Will mutual funds continue to have a place, especially in 401(k) plans and for more esoteric asset classes, such as international equities and microcap noted above, where liquidity of the underlying and operational challenges may make an ETF difficult to operate? Of course. Will some investment managers prefer the ability to keep their holdings private as opposed to visible daily? Unequivocally, yes. However, I believe the shift to ETFs, especially in the active camp, may accelerate as evolution winnows the universe of investment products. ... "