By Michael Auerbach wants retail investors to try exchange-traded funds, pushing them to eschew the riskiness of trading in individual names and embrace the idea of getting access and exposure to a basket of names at once.
And to prove that ETFs are viable for investors who want to play the market with purpose, Auerbach’s Subversive Capital has launched the Subversive Metaverse ETF
PUNK,
-2.20%,
an actively managed fund that invests in all things Metaverse, except one, Meta Platforms Inc., nee Facebook
FB,
-2.95%.
In fact, Auerbach and his team are shorting Meta while going all-in on everything else Metaverse via holding shares in companies like Nvidia
NVDA,
+0.69%,
Microsoft
MSFT,
-0.95%,
Coinbase
COIN,
-4.94%,
and even Google parent company Alphabet
GOOG,
-0.82%.
But why?
Well, we asked Auerbach face-to-face on the latest episode of MemeMarkets.
