Ferri Richard A. The ETF Book

John Wiley & Sons, 2011. — 416 p.All you need to know about exchange-traded funds.
There’s no topic in personal finance today that’s hotter than exchange-traded funds (ETFs). Die-hard believers in passive investing love the low costs and broad diversification available through ETFs. Traders and market timers love the ability to buy and sell on an intraday basis, and they cherish the growing number of highly specialized offerings that allow them to execute far more sophisticated strategies than ever before. Even active managers are getting in on the scene, using ETFs to ‘‘equitize’’ their cash positions and imagining a future where actively managed ETFs will be widely available.
Never before have so many investors embraced a financial concept so rapidly and for such a wide variety of reasons as they have with exchange-traded funds.