'iBillionaire' ETF looks to bring Buffett, Icahn to the masses

Mom and pop investors hoping to emulate the investment savvy of Wall Street's wealthiest like Warren Buffett and Carl Icahn will have a new way into markets on Friday when the latest low-cost exchange-traded fund tracking the stock picks of big name investors begins trading. "It democratizes a lot of the information that very wealthy institutional investors have had for a long time," said Brian Jacobs, president of Direxion Investments, the ETF provider that has partnered with index creator iBillionaire. Furthermore, the practicalities of pulling investment ideas from the quarterly reports filed by these large investors means that the investment ideas often lag by at least 45 days. The fund and its underlying index include the 30 top U.S. companies in which a pool of selected billionaire investors have invested the most assets, based on the so-called 13F disclosures the investors must file quarterly with the U.S. Securities and Exchange commission.

via Business News http://ift.tt/1lk0k5h