My Thoughts on ETF Master Trader
Tuesday, April 17, 2007 | Dylan JovineRating:
Ever since I went through Teeka Tiwari's ETF Master Trader course this weekend, I've been thinking of a clever way to congratulate him for actually making the first investment education product I've ever seen that was any good. No matter how hard I tried, though, I couldn't come up with anything better than what I wrote to him late last night, on the first day the product was released. This is an excerpt from an actual email I sent to him:"..............Anyway, I know you've been incredibly busy getting ETFMT (ETF Master Trader) ready for prime time. (It's been a bit weird for me not to have been involved in this as much as previous product launches. But what can I say? We have some great people working here, and at this point, half of the time I think my job is just to stay out of their way).
But now that the craziness of the first day of a new product launch receded a bit, I just want to say how proud I am of what you created.
It's no secret that I wasn't a fan of this idea from the very beginning (OK, I think it's fair to say I HATED the idea of creating an investment education product).
For starters, I just didn't realize how big ETFs were getting to be, and, to be perfectly honest, I didn't know if we could create an investment education product that actually helped people become better investors.
(Just the thought of using the SAME formula everyone else uses - drown the customer in 20 DVDs, 10 Books, and throw in a few Audio CDs to boot - makes me absolutely sick to my stomach.)
We both know that 99% of the information that comes with those "education" programs usually isn't worth the paper it's printed on. Like you said in your letter, it's like going to the butcher and asking for 16 ounces of beef but getting 15 ounces of fat and one ounce of beef instead!
But I have to hand it to you, T - I really liked what you've created here. I was actually VERY IMPRESSED with it.
The book was well written and informative (I feel like an ETF pro already,) and the ten videos or so you created BLEW ME AWAY!! Very intense, informative and well done. It really was like an investment "flight simulator"! (And I thought that was about as hokey as it gets when I first heard it.)
Seriously, though, I could tell you put your heart into it, and I'm proud that it's part of our product catalog now.
(The one small knock I have, however, is that you pack A LOT of information in here. I'll have to read the book and watch the videos at least five times before I really "get it".
As good as the book and the videos are, I think I was most impressed with the "Sector Hunter" website (the name is even starting to grow on me - finally!)
You were right: picking the sectors for our customers each week really adds a whole different dimension to the product, as people can just log in once a week, see what sectors you like and buy the ETFs that represent those sectors.
All kidding aside, though, it was a GREAT IDEA, really....it just proves to me (once again) that you take the idea of their long-term success VERY SERIOUSLY. (Would you have EVER imagined doing this ten, fifteen, twenty years ago? It would have been blasphemy, no joke).
I also think you've made both mine and Chris' lives a bit harder if and when we ever get around to doing an education product ourselves. (Seriously: How on earth could I replicate a "Sector Hunter" scenario? It works for ETFs because the trick is to know the sector first, but it wouldn't work for value investing.)
Anyway, congrats on creating a great product and having a successful launch yesterday. I must admit, I was pleasantly surprised that we filled up so many of the 1,000 slots on the FIRST DAY. (As you always say, "Real investors know where it's at," so I guess it shouldn't surprise me that much.)
And a big congrats on getting it done in the first place. I know the past three months have put a TREMENDOUS STRAIN on your entire family, but yesterday was worth it. Especially considering how much you seem to be enjoying yourself, which is great to see!
Warm Regards,
DJ
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Dylan Jovine
Chief Investment Officer
The Tycoon Report
