Dont blame it on the ETFs

ETFs have been accused of being risky and businessman Terry Smith - known for being vocal in his dislike for the instruments - has said that the losses are proof that ETFs are harmful to the financial industry and called for them to be banned. He has ignored the fact that no ETF investors have lost money as a result of the UBS losses and there have as yet been no knock-on effects on the wider market.  In the race to pin the blame on ETFs, facts have become muddled. Whatever the extent to which ETFs were involved, those in the ETF industry have all stressed that rogue traders wil...