Words can carry a whole lot of power, even in the world of exchange traded funds (ETFs).
Mariana Bush of Wachovia Securities is an ETF analyst who knows what she’s talking about. One ETF shop that recently benefited from Bush’s analysis is PowerShares, who saw its assets under management grow from $551 million to $605 million overnight, after Bush decided it fit into one of Wachovia’s strategies.
The Mutual Fund Wire also reports Bush was featured in Thursday’s Wall Street Journal Fund Track Column. Ian Salisbury for The Wall Street Journal calls her "the lady in the fitting room" whose job is to match the ETFs to the strategies at Wachovia. With power like that, Bush has become one of the industry’s most influential gatekeepers.
Eyes have been turning to Wall Street’s few big brokerage firms as a result, who are beginning to carry about as much clout as discount stores such as Target or Wal-Mart when it comes to deciding which CDs and movies to sell.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.