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A share of an ETF is a claim on a financial asset that is backed by claims in other financial assets, usually stocks. So while it is one level higher than direc
by tg3 15y ago
A share of an ETF is a claim on a financial asset that is backed by claims in other financial assets, usually stocks. So while it is one level higher than directly owning securities, it is still a claim on productive economic assets.
- smokeyj 15y agoFor the sake of preventing a tautological melt-down could you define "securities"?