Exchange-traded funds (ETFs) and HOLDRS (Holding company depository receipts) is a recent and highly successful innovation in the capital market. HOLDRS close buy and hold strategy, and Merrill Lynch believes that the product has a significantly lower taxes and other costs than ETFs. The company is considering expanding the market for the HOLDRS by introducing a new 50-stock basket, "Market 2000 + HOLDRS", it will hold 50 of the top-capitalized stocks in the world. "Hide
by Andre F. Perold, Simon Brown Source: Harvard Business School 17 pages. Publication Date: March 20, 2001. Prod. #: Two hundred and one thousand and fifty-nine-PDF-ENG
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