Episode Summary

Tyler Gellasch from Healthy Markets joins Jeff and Bruce to discuss what the potential regulatory fallout will be from the recent social media-fueled trading frenzy. As Jeff says, the politicians have their meat hooks into it, so what comes next? Bruce Bond, a 2021 Innovator Award honoree, also joins to discuss his career in the ETF space.

Episode Notes

Interview with Tyler Gellasch - 1:20-32:40

• Background on Healthy Markets
• Immediate take on the GameStop backlash
• Why does this matter for institutional investors?
• What regulators might do about broker-dealers’  position
• Focus on gamification or on capitalization?
• What's next for these day traders
• Was Robinhood ready for this?
• How fast can regulators/lawmakers move?

Interview with Bruce Bond - 32:45-53:00

• Background on his time at PowerShares, developing ETFs
• Buffered ETFs — how they work, how advisers use/trade them, costs, what they do/don’t offer to investors and advisers

Guest Bios:  

Tyler Gellasch is a leading capital markets policy expert whose opinions and insights are frequently sought by regulators, members of congress, market participants,and the press. Gellasch’s public service included five years as counsel in the U.S. Senate, as well as service as counsel to then-new SEC Commissioner Kara M. Stein. In private practice, Gellasch has served as a general counsel of a boutique investment bank, as well as associate at Mayer Brown and Morgan Lewis & Bockius. Gellasch is also a founder of Myrtle Makena, a consulting firm. Gellasch received his undergraduate degree from Case Western Reserve University. Both his juris doctor and master's degree in economics were awarded by Duke University.

Bruce Bond is co-founder and CEO of Innovator Capital Management. Having cofounded PowerShares Capital Management in 2003, he is recognized as one of the pioneers of the ETF industry. His leadership, creativity and entrepreneurial vision challenged the conventional thinking about ETFs and blazed a trail that made way for the massive growth of what is known today as smart or strategic beta. In addition to being recognized for best-in-class products, Bond has been named the ETF industry’s most influential person on multiple occasions. He is a thought leader and has been quoted in financial publications around the globe.