Commentary
Watching a segment on the business network CNBC the week before Easter, I was struck by what the late baseball great Yogi Berra called “déjà vu all over again.” For what that network’s anchor Bob Pisani was describing was a crisis of confidence—but then an epiphany in my own case—yours truly experienced over 40 years ago as I began my own career.
Pisani was covering the Exchange ETF Conference at the Fontainebleau Miami Beach. The reported 2,000 or so elite investment advisers and other financial professionals were at what was billed as the largest such conference for the enormous ETF industry in the world.
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