00:00It's time for an IQ test where Bloomberg's Joel Weber is going to see whether we really know
00:04our stuff. Joel co-hosts the Trillions podcast with Eric. He's also the head of games at Bloomberg.
00:10So Joel, let's get started. Should we try and stump Eric this week? Yeah. He's already pretty
00:16full of himself. I'm already one for one. Here's one that he may not know. What's the approximate
00:22ratio of ETF launches to ETF closures in recent years? Is it A, 16 to 1, B, 8 to 1,
00:31C, 4 to
00:321, or D, 2 to 1? We just talked about this. Recent years, I feel like, is a key for
00:38this
00:38year. I know. Exactly. I'm going to go... It's changed. That's why. Wait. So it's changed
00:43to this or it's changed from this? It's changed to this. Okay. 4 to 1. C. Okay. I'm going
00:50to say 2 to 1. Eric? 4 to 1 is the average long-term. So I'm going to go B,
00:558 to 1.
00:56Jeez. Okay. Let's see what the answer is. We got him already. I read the research. I read
01:01the research. You said it changed to this. No, but that is the long-term average. He can't
01:05accept being wrong. Semantics, Eric. Semantics. I don't know. I think that's... There's something
01:10wrong. He led me astray. Yeah. Okay. Question 2. I'm happy to get the bait. I lose either
01:15way. All right. Fine. In your actively managed ETFs, make up what percentage of
01:20total assets? A, 3%. B, 6%. C, 12%. Or D, 24%. What is it, Starlet? I know. What human
01:31should know this? Let's just go with B, 6%. I was going to go single digits as well. And
01:37I think I'm also going to go 6% because they do have leveraged single stock stuff over there,
01:43which is actively managed by default. Yeah. But there's no degen gene in Europe. Nobody cares
01:48over there. So you're telling me it's 3%. It is 3%. Please, Louise. Okay. And by the
01:52way, a little sub fact. Let's see it, though. Let's make sure that he's right. Okay. He's
01:57right. J.P. Morgan is half that number. Okay. They, like, own the market over there. With
02:02the equity income system? Yeah. Someone in Europe recently. Okay. Final question. Eric's
02:07one-on-one, just if anybody's... Yeah. Thank you. Thank you. Vu became the first ETF to surpass
02:12$1 trillion in assets. What's the next largest ETF with Vu and its ticker? Wow. Oh, wow,
02:19that's good. That is good. Is it A, Vuks, B, Vuog, C, I, Vuog, or D, Vuov? Oh, my gosh.
02:27Okay.
02:27I love the fact that you've read all the tickers. Yeah. Yeah. I'm going to go with Vuog, B. Okay.
02:32Shoot. I have no idea. I'm going to go with Vu. I like that the most. Vu, okay. D, right?
02:37I'm going to join KD with D. I think it's Vu. Ah. You know what? Scarlet wins. Oh, my gosh.
02:43Really? Gross of her value any day of the week. You're right. Just in second. You're
02:47right. Oh, my God. Am I in the lead? Yeah. No, you're ahead. You won. I mean,
02:50today? I won. I won. Wait, I got two for three. Wow. Amazing.
02:55Well done.
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