Stan Wong Evolve FANGMA Index ETF TECH-T PARTIAL SELL Nov 16, 2023

Interesting strategy. Nice thing is you'll avoid some of the US estate tax issues. Gives you access to the 6 biggest tech names, equal weight. Likes all the names. He owns MSFT, GOOG, AMZN, FB. The only ones he doesn't own are AAPL and NFLX. FB provides a great opportunity at a great valuation. AMZN's cloud business will continue to grow. MSFT is doing well. GOOG is a strong player.

Exposure to big large cap tech names. Right now, with the Fed removing accommodations, these long duration assets and up-and-coming new tech could underperform for a while, most likely mot of 2022. The multiples are very high and they do well in deflationary environments. In an inflationary condition, value will outperform growth.

Holds six stocks that are not diversified. Also, interest rates are a pressure.

Concerns about low trading volume or assets under management?

Very good question. He always insists on his investments being liquid. He has no interest in anything that he can't sell in 10 minutes. 

ETF market is so dominated by BlackRock, BMO, and Vanguard, everyone is squabbling over the remaining 15% of the market. So you end up with a lot of nichey products. Evolve has a number of very small ETFs. Adds an element of doubt, so he avoids them. It may be unfair, but he's dealing with retirees who don't need anything that's not liquid.