The ETF machinePassive investing is yesterday's story. The real action is happening in leveraged ETFs, AI funds and increasingly exotic products that now account for a disproportionate share of market activity. Goldman Sachs' latest ETF data shows where leverage has been flushed out, where speculative demand remains strongest, and why these vehicles are becoming an ever more important driver of price action.The reset
Everyone Owns ETFs. Almost Nobody Understands Them.
Fundamentals still determine where markets end up. ETF flows increasingly determine how they get there. Everyone owns ETFs. Almost nobody understands how they actually move markets.






