The ETF Ticker Premium

Blueberg Television. The anchor at the time, Adam Johnson, UM, he loved the tickers. And even my mom can get into them. They're very accessible, they're fun, they can communicate a lot quickly, and and on our team we call it the ticker Premium. We believe that a good ticker can give you a little extra juice in the marketing

efforts of an e t F and UM. I was down in Florida at the Money Show, my first physical conference, and ran into a UM a couple of E t F pros and had some drinks and some of the stuff they were telling me about their trials and tribulations of reserving tickers. I thought, this dish really is a perfect podcast. Plus sometimes I'm asked about ticker reservations and whether you can like sell a ticker, how long it lasts,

and I can't quite technically answer all their questions. So I wanted to really nail this down finally how it works. So joining us Uh, a couple of your friends from Florida, and then we widened the circle, filled back with signal advisors Mike Venudo with Torosso, Laura Morrison with Cibo, and then joining us from Bloomberg News Claire Balentine, this time on Trillions Tickers. Phil, Mike, Laura, Claire. Welcome to Trillions. Thanks. Okay, so I'm really excited about this. Um, let's just start

with some basics. What do I have to do to hold a ticker? So, in order for a client of an exchange to reserve a ticker, they simply need to reach out to the exchange and make the request. It's pretty simple and straightforward. If the ticker is available, we reserve it for them. If it's already reserved by another exchange, we can place ourselves on the wait list and anticipation of it potentially becoming available or we can reach out to the exchange that has it reserved and ask it,

ask them if they'd be willing to release it. So is this like, go daddy, though, Do I like pay? Should I pay? Do I pay? And I just plunked down some like twenty bucks and I get to sit on the u R O. No. No, you actually don't need to pay anything in order to reserve tickers. The exchange doesn't look at that as a revenue line. Nobody really owns tickers, to be honest with you, I mean, just by way of background, and this is going way back. Um, when I started my career at the New York Stock

Exchange in corporate listenings, there was literally one guy. He sat in a very small office with a huge ledger. I'm thinking it was maybe two ft by three feet in size. It was leather bound, and you'd walk in there and you'd have to bring a piece of paper actually in triplicate and asked to reserve the sticker. Um. It was very manual at the time. Exchange is eventually utilized other software technology, but it was all individual by exchanges.

Fast forward to today, there's this concept of the intermarket symbol Reservation Authority Israel, and it is all under the regulation reagain a mess National Market System Plan and filed with the SEC. So it's much more um, much much more specific as it relates to the ability to be

able to reserve tickers in for how long. So so essentially each exchange has the opportunity to reserve up to symbols, and the symbols reserved for twenty four months, and if that exchange hasn't used that and applied it to a listing, then they actually lose that reservation and it goes to the next person, the next exchange on the wait list. But like I said, it's not like Go Daddy, where exchanges can just sit on the symbols and reserve what

they think will be the next hot symbol. They we really have to keep documentation to to prove that there's an intent by an issuer to use this symbol within the next twenty four months. So, Eric, I know you always like the analogies. It does sound a lot like the Bureaucrats and the Hitchhiker's Guide to the Galaxy, right like it's it's weird, you walk in, you don't know

what's going on. But I think one thing, Laura said at the end there that's really important is it's not like anybody off the street can just call up the exchange and reserve a ticker. There has to be evidence that you're actually have and intend to launch something with it. It's it does. It's not like a commodity that has value to somebody who's not going to launch that they can transfer our sell Well, and what's that evidence that

you intend to launch something? What qualifies as evidence? I mean, Ali, Laura hit that one, because you know, usually if somebody cause I run a white labeled business, if somebody wants to launch an ETF, they're more likely to get it reserved the ticker by coming through me because it exchanges know that we have the ability to actually launch. But I just wrote down a great idea on a napkin. Does that count yep? Laura, you have the ability to launch.

As we get to know our clients. It comes in through the process of listening, so as we um appreciate how sophisticated and knowledgeable they are about what their intentions are than you know, it gets to a certain point we're like, okay, well let's talk about symbols. So then it's brought up at the appropriate time. There are some instances where are we we get prospects because their first

question is may I reserve this symbol? But then we go through further exploration to be sure that you know it truly is a um an opportunity for us to do business. UM let's talk about it from the issuer point of view. So this is I think what most people fantasize about. Okay, I've got this idea. I'm an independent issuer. A lot of times on Twitter, somebody will bring up something and people will start imagining what the ticker should be. So you, guys, Mike phill or our issuers,

how many tickers do you reserve? How do you go about it? How important is it? Uh? Start with Phil? How much time do you spend thinking about it? I guess I have a lot of questions. It's really one of the first things you do. It's one of the first things you do as soon as you have the concept of the fund, before you've nailed down to details, before you've written the perspectives. You grab those good tickers because you know they're hot item and they're gonna go.

The language of trading desks and asset allocators is the ticker, not the fun name. So some of the fun names sound like law firms, you've got you know, issuer, index, provider, asset class, blah blah blah, fund um. But the ticker is a great The tickers are more fun um. The ones that don't work as well are probably the acronyms, the ones that stand for a long in a series of of you know, parties that are involved in the fund.

But the ones that really hit the nail on the head can really you know, be very sticky and memorable, and it's an incredible edge, is an incredible marketing tool. Yeah, premium is the right word here, because I was telling you back in Florida, feel that I got together to run a separate businesses together eventually culminating and me buying Phil's company, all because of the ticker bl okay. Right um.

And one thing that you think about when you're reserving tickers is what are the competitors that are gonna come and what are they going to reserve? So I own some derivations of bl okay as well, right because like go daddy, I don't want somebody to have you know, roso dot net or Taroso dot or all those sorts

of things, so that premium is very powerful. When we first came out with block we weren't allowed to use blockchain in the name, but the ticker was explicitly clear, and we launched the same day as another fund and literally doubled their assets. All in my opinion, in the

early days were about ticker premium. This was like right at the peak time when everyone was saying blockchain not big cooin, right, and the blockchain was just getting super hot, and we were looking to launch a blockchain theme fund.

There weren't that many public securities that were really pure plays in the space that were just coming up, and we're getting to that point, and there were two other companies, Mike's Company another company, that were also working on a blockchain fund, and I didn't know if we could beat them to market. We had other priorities we're working on the things. Really what we're focused on was automating our trading desk. So I said to Macan said, listen, I

don't think I could beat you to market. Why don't you take the ticker, you launch it, but we'll do the trading and subadvisory work for you, because that's where we're focused and it turned into a wonderful partnership not only on a fund but for our businesses. One of the stories that we went over down there that I think really exemplifies how it works is Mike, your story with the ticker d O g E. So explain, you know, Okay, you thought of it, you registered it, and then and

then what happened? Tell me that your history with this ticker and what's happening here. Yeah, so let's start with this is not an endorsement for dose coin, So so we're all protected. Um that said, I am a fan, but you know, three years ago we reserved that ticker um with the idea that maybe we would do like a gray scale thing around doze or something, since you know, and we were way early. Um, and by the time you know, that was something viable was maybe a month

or two ago, and by then it was expiring. Now I knew that I wanted to reapply for it, right, but somebody else was already on the waiting list. I'm guessing Barry got it. Uh So, so yeah, you know, you could have something and be thinking about if for years, but if you don't use it, you lose it. Another example of that is I had Hell as a ticker H E A L. And we didn't have a great product for it yet, but we knew we would eventually, so we spent the legal money to file so that

we'd get the extension um. Eventually, we still let it go because we never came to an idea that would fit it. But you will go out of your way to keep a good ticker if you can see the product that could fit with it at sometime. And one last thing I want to add to the going and getting tickers thing is a lot of us think about families, right, So I've done the risk on risk off row row, I've got Jojo coming, I've got other ones that are similar.

So when you're thinking about a fund, you're usually thinking about a family of funds and what tickers can come together around that family of funds. So you'll see a lot of these new groups that come out with like options overlay, they'll put an A in front of everything like Asymmetric or things like that, or or got them with the g spy, So you'll you'll see people build as bet best as possible families. And the last thing is anything with E S G in it is gone

and nobody can get it right. They all the E s G tickers are gone. So um, there you go. There's some inside baseball. How often would you say it happens that you think of the ticker and that are looking for a fun to fit with it versus the other way around, because I would think you have the fun first, and then you figure out a ticker oil you want to take that one. And there are very few tickers that are good enough that you would build a strategy around it. But there are some out there.

I think we've seen some maybe in the cannabis space, you know, where there's some real you know, premode tickers and the space was just exploding. Um, there are some, but I think you know, there's two kinds of of of product, um, like target markets. Right, You've got your thoughtful uh let's say, quantitative strategy or active value you know value strategy, which is, you know, really it's gonna be ground up, it's gonna be an E Smith manager

who was a philosophy that they've developed over years. And then you've got your fast money retail stuff right, which is like you know a weed fund or blockchain fund, and that stuff can come quick. And you've got to be fast, because the only way it works is really if your first maybe second to market. Um. And those are the ones where the ticker can in some cases drive the product development. I think that would be rare, but I could see a couple of tickers good enough

where that could happen. Yeah. I think it goes back to the family concept, right, So this will be close to you, folks. UM. We had this idea a couple of years ago that all the major like family offices and big names out there will eventually have their own ETFs. So we reserved a bunch of names including I'm looking at it, b LMR, with the idea that Michael would someday launch his own ETF. Bloom was not available, so

but we had Zuck and things like that. Um. Now it hasn't come through, But if you're thinking ahead of where the industry might be going, owning that ticker premium early could be very valuable. I think what you're saying that you you think of a billionaires, Yeah, because they would embrace the tax benefits at some point. But just to be clear, you can't sell that. I cannot. Only you can only build an e t F around it and hopefully they'll be involved, but you can't like sell

that to them for a certain amount of money. No, But what more likely happens is what Phil said, Right, we figure out ways to work with each other and further the industry of Phil and I call it the rebel alliance, you know, like me, him, meb West, all the smaller guys and girls working together. Um, the indies, Yeah, the indies have the best tickers. I mean, there's definitely a correlation there, Meb. You said, uh Med has toke to me, that is Mount Rushmore. I like herbs. We

don't know these names. Me Med favor is the CEO of Cambria UM and he has UM. He also has I heard he has h O d L, which to me is you could probably sell that for a million dollars to one of these bitcoinis. I know, but you probably could. Mike you you talked about um the premium

and also this family idea. You know. Another trend that Eric and I have have notice and talked about before on the show is like when there are e t f uh tickers that are verbs that seems to be also really effective, like hack being a really famous one. You said, he'll I thought what that was that triggered that idea for me, Like, how much do you think a premium goes for for tickers that are can also be verbs? So I think the key is that the

ticker tells the story. If you can find a ticker that tells the whole et f story and one word, it's amazingly half powerful, like hack block, you know what they are, and it's it's just done. Um. The other thing that's very powerful with a ticker is I know I've Joel, I've heard you on your podcast here talk about some of the stupid names we have to deal with. Believe it or not, Those stupid names come from our

regulators trying to protect um. Right. So so if I say I want to do something, they say will prove to me that of the revenue is coming from there, And I say, yeah, right fine, Like, and it's really about pigeon holing in with the naming convention rules. If a ticker can get across what we're doing better than the name, it's super super powerful. Just to be clear, you're talking about like your block, which we've been mentioning over and over. Sorry, official name not here to pitch. Yeah, no, Um,

the official name is Amplified Transformational Data Sharing e t F. Correct. Yeah, so thank god for block. Yes, if that was a t d S, good luck, But it happens with a lot of them, like these hydrogen economies. And remember when there was the Whear e t F. The name of the E t F was the same as the symbol, and it was supposed to be about wearables and then the SEC said no more of that. So the person who who governs how we use a ticker is Laura or UG or one of the exchanges and their self

regulatory organizations. The person's the entity that regulates what the name is is the SEC inus. So so there's a lot more leeway with the ticker because you're not getting a regulator saying no unless it's a cash management product

UM low duration stuff. So I had mentioned to you I have a t M. I was told I couldn't use it for short duration fixed income fund because it would imply its cash I think another thing is, you know, we tend to take ourselves real seriously in the sm management industry, and the tickers that don't take themselves too seriously, the tickers that are more fun seem to do really well, like I had a fun called the Reverse cap waited US Large Cap et F and for the ticker, I

shows reverse r vrs to spell out reverse and it kind of fell flat for the most part. When we launched a fund, Ben Johnson and Morning Star putt saying, oh, this should be YPS for spy spy backwards YPS, and it got a great reaction on Twitter. I'm like, I miss did well. We ended up a couple of years later selling the fund to Arrow Funds and Joe Barrado at Arrow Funds is like, hey, let's use now we're

moving it over, let's use YPS. It's much you know, it's much lighter, it's much more fun, and it doesn't tell the whole story right there. Um, And he didn't. Immediately we got another like eight or nine million into the funds. So you know, it was that that it can't have an effect. Yeah, you could have the opposite effect with a bad ticker, which you've teased me about

on bolth Twitter and on various shows. Yeah, wait, E t F Industry E t F. It should have been meta, should have been meta, or there was other ideas, but T E t F just well, So what we learned was t E t F everybody I thought that that meant it owns all the E t F s, right, so like total E t F s or something like that. So we figured out way too late in the game that our ticker gave the wrong message. And that's even that's instead of ticker premium, what is that ticker deficiency

ticker dysfunction? Okay, well, wait, I gotta go. I got a good follow of that. Like, okay, So one of the things that we've talked about before is like the E t F graveyard where we we see a fund that you know is no longer viable and get sunseted. And how often are you keeping an eye in the graveyard to see if you can, you know, steal something from beyond the grave and bring it bring it back to something else. So I have a list here of a couple of these because I was talking with Phil

about the last night. So, uh, the only ticker that's been used for the same et F twice is s E A, which was used for the shipping so it closed, reopen, closed again. And now, um, I mean the filings out there, but I'm bringing something similar back as boat b A B O A T Why y Y closed as a weird fund. It was one of the first ever active funds, and then it was reopened as a passive fund at etc. And then Amplify and then um I mentioned the risk

on risk off right, So State Street had that. Ironically when we launched it UM in our trust separately after they died, there immediately was approved at all the wirehouses because they thought it was still the State Street fund. So we're getting orders in and then like three days later they're getting rescented because the order books that the wires still were connected to the old fund and the old ticker. So all kinds of weird things happen from

tickers and the graveyard. Can I jump in here with the story. And we saw recently where uh BTC, which clearly is going to be a coveted ticker for a bitcoin ETF. I mean that's like gold um gray Scale took a position in this smaller issuer who had a fixed income fund. They changed their ticker but not the strategy from like something appropriate to BTC, and then they undid it. So I'm guessing the SEC sort of sent

them an email. Is that is that fair? But that's also how valuable the ticker is that gray Scale was willing to like do this whole maneuver just to hold onto BTC in the hopes they can convert GBTC to an e t F. Do I have that right? I don't know if any of us have the specifics of that case or would know you know, what the SEC

and may or may not have said. But I have to say that the idea of buying a separate fund just to stick it with the ticker, to take the ticker off the table because they already have GBTC, so they don't need more ticker recognition. They just need to prevent somebody else. I think it's an incredibly I mean, that's just a brilliant defensive move. It's brilliant. But it was kind of interesting. I was watching that from AFAR

as well. There are other things that exchanges do is just try to eliminate confusion, so reducing confusion the like for example, Mike, like what you said, if a fund closes, we typically put that ticker on the shelf for seventy five days or so, just so that there's not an immediate confusion and misunderstanding for actually what you're investing in. If if you're just focused on tickers. M One thing that we did, like when v XX relaunched as the new v x X, we actually didn't give it the

v XX ticker immediately. Um, we would have liked to put the VXX ticker on it sooner, but we just said, okay, let's just make sure that there's there's time in between that. But then there's also the standpoint of, you know, BTC ticker means something, and it put a BTC ticker on you know, the intermediate fixed income e t f is. We were just there's got to be an ulterior motive here, right, Yeah, that's ultimately it's just probably not the right thing to do.

It's not it's misleading. Yeah, I can't explain that one. That one looked bungled to me. I'm curious to find out if it was truly strategic or a complete, you know cluster. What do you think the ticker premium is actually worth? Is there a way to quantify it? I think it's a case by case Joel. It depends on if you have a competitor at that time. It depends on a million different things. If if the theme is

hot and the messages in the war single word. I mean, the hack is where it is because of that ticker and the fact that they launched it in two days later you had the Sony hack. Like right, I think sometimes all else equal, it seems to be worth a lot, but it's not worth a lot on its own. It's it's it's hard to it's like an art to it. It just but it can actually, like you said, I

think it can confuse people. One story that comes to mind, I'm not sure if somebody can share the details on this one UM is t r x T, which was the Bill Gross ETF which launched from PIMCO. That's not a great ticker, especially for you know, Bill Gross at the time was like king of Active Management and like three months later, bam, they got bonbed. So I thought I was thinking, like the Godfather, Bill made an offer to somebody they couldn't refuse. UM. But any I don't know,

anyone know the background there. The story is not that good. Unfortunately I was. I was involved in that listing at the time, and we were we went to celebrate the launch on the day of and actually I was at their headquarters in California and Newport Beach and Bill looked at me and said, why don't we have b O n D? And then I looked at his team and I did some research and I was able to obtain the ticker b O n D and apply it to

this fund. Prior to that, it was reserved elsewhere, and the entity that had at reserved was willing to let it go. They were willing to let it go because Laura asked them in a way where they were willing to let it go. But prior to all that happening, they had gone to their rep and and y see, he asked for the ticker bond. The rep at the time was me and I said, I tried, I couldn't

get it. So they got stuck with t r XT, which was a terrible ticker that when they went to Laura, Laura was magically able to free it up after they're already launched with a bad picker. So, as you might imagine, there's launch time they ever asked me for anything. Okay, that's an amazing story. Um. You know, there's a really basic one Laura that I that I have to ask you, which is I can think of a lot of bad

words that are usually four letters. Um, and how do you evaluate you know, the bad words that that people come and I'm sure it happens not infrequently. How you get some of those inquiries? Yeah, that's true. We um and like when I, like I mentioned before, we get an inquiry for every letter, every potentially available symbol that

starts with X, whatever that is. You pull that list and you have to scan it before you send it to the company, because I want to make sure that none of those those are included in that Excels friendsheet that you're sending. To be honest with you, So, so do you have to go to like Urban Dictionary just to keep up with like slang? Yes, I'd like to think that we're pretty well up on things, but there

are a few things that slipped by asad. And what happens if you if you did send that list out to somebody and they they've spotted something, do you do you have an ability to to like walk it back before something launches just in case? Okay, yes, yeah, because once you send in the list, then they come back to you and say, this is what we'd like. You know,

we were going to be launching one fund. This is our order priority would really like number one, number two and number three and then we go through that process to try to secure it for them. Um, so that's when that's when we catch it. One of the things that I wanted to do here was sort of imagine that we were issuers and that we were going to reserve tickers for things we might launch, which is a show we did. Uh, but two years ago we had a competition for it was like a shark tank for

who had the best DTF idea. So, um, each of us has got five tickers or so that we wanted to see if they were available and if we could reserve them, just to see what our rate is like our hit rate, uh, and how much is reserved. I thought that'd be fun. So um, we each have what five, five, six tickers. It was hard to find. It was hard to keep it at fun, but you know it was. It was a fun exercise. So so I I can go first, Um, and Phil, how did you find out if this was taken or not? So I went to

the incomparable Raw Morocco at Cibo, who works with Laura Morrison. Um, and uh, you know he was able to go through each one with me and tell me which ones were available and which ones were not. And I honestly, I don't think you guys are gonna be very happy with the availability here. But let's see where we got. Okay, by the way, Rob Morocco is an amazing name, uh that the character will have to revisit it sometime. Okay.

My first one was ACME, as in, you know, you know, watching a lot of uh Saturday morning cartoons with my kid ACME brand. That just struck me as something like I don't know what it is, but like ACME is that one available as of today, as of this recording, ACME is available? Look at you chill, one for one, one for one. Okay, Next, well, I don't know what that would be. An ETM, you know you'll figure it out. Yeah, explosives, dynamite and coyotes. There you go, there go, Yeah, weapons,

weapons manufacturers. That's pretty good. Okay. What about what about hot with two T s or one either way? H O T T is currently reserved? What about what about meme? Meme is reserved? I know who has that. It's a round hill. Make him o an offer they can't refuse, and I'll just yeah, I think they're really trying to do a meme TF. Okay, what about not as an n O T N O T is available. Okay, wow, I hit right pretty high. Okay, what about l G S T that I was thinking like long short? Okay, uh,

l G S T is reserved currently. Yeah, okay, Now this was like the one that I thought was the best. Um funk funk is available? Ah, I don't know what I do know what would that be for? That would be good for the the q J kind of concept. Yeah yeah, music streaming, that's got us. I'm good at this. I have more, but I feel like I should put

this down before I started striking out. So I just want to tell you that the not one does not surprise me because we all avoid anything negative, right, I know who has risk and a couple of these other ones. You never want anything negative in the ticker, just so you Yeah, well that's just like your opinion. While I was striking Joel, I also checked for the ticker Joel j O E L, which was available reserve for you.

Of course, I have to throw it back because there's no intention to use it unless you quickly come up with a fund that we can file. Um, but as of this moment, I do have it for you. So by the way this idea of reserving random names, uh not Zuck and Mike and those, I just I do think that there will be point um like like random Wall Street bet type people will emerge from the underground and you'll see tickers just like Greg. It's just like what this dude Greg likes and he just happens to

be very good and followed. I do think we'll see that. But what about like a Dave E t F like Dave Portnoy. Yeah, like his just his picks what he likes, and just follow him and you just now your own Dave stuff. Yeah, that's simple, that's kind of like public. Yeah exactly. I love that concept. Yes, some superstars from there will could get their own E t F tickers, and so I think names far were you guys, I'd reserve like all the famous names. Yeah, like you know,

somebody needs to get Did you check on Eric? Eric is an active symbol right now, and of course I checked Phil and Back are also active. Claire, I couldn't quite fit your I couldn't quite fit your name into into four syllables. So yeah, ce L A R maybe, But okay, I'm gonna quit while I'm ahead. I felt pretty good about that, and by the end of the episode, let me see if I can come up with something for my own uh name, But Claire, do you want to take a shot at yours? Sure? Okay, so um

we talked about some of mine. I had Doge and Meme on my list too, but related. I had WSB for Wall Street bets. That's a great one. It's already reserved. I bet it's round hill um. And then I also had I don't know, does this violate any like profanity bands if the ticker l m A O that, I don't think it would. It is currently reserved as well. So by the way l m AO is used for a spack, does that mean it could not be used as an E t F Also, yes, that's correct, that's

why it's taken. Yeah, that's actually like a spack, all right. And then I had um food f O O D for like a restaurant et F food is currently reserved, not available. Not surprised, um. And then I had Life l I F E reserve not available. I don't know what that would be for everything, but the CTF is life. That would be like a pro life version of the SMP or something like that. Yeah, yeah, yeah, that Catholic value thing, or or you could do like genome, but yeah,

it's it's not as clear. Now. I didn't have this on my list, but I'm wondering if this would be possible. Could you have an E t F with the two grew E t F. So I went through this because I had t E t F. So the E t F ticker was actually owned by a closed end fund when I launched, which was just ironic ironic, like like a lot of Morrissett song like literally defined by the fact that a closed in fund has the ticker E t F, and I think they got rid of it,

but I don't know if it's available anymore. Okay, Eric, let's hear it. Okay, the first one I have is God. God is currently reserved and not available. Who has that? Probably the uh you know what are they called? There's a Bible ETF. So, so, Eric, just a little inside baseball, I can tell you, Lord Jesus Pope, all of those are not available either. Not surprising, although that would be some E t F anyway, all right, um, here's another one.

This is one that I had my idea for an E t F, which was the s p X Mondays. So you just invest Tuesday through Friday because Mondays are always horrible. Traditionally that's when the worst sell offs happen. Q mom q q m o N. That is available. It's a oh, that's a great one. Eric, Um, here's another one that I think would be great, and it's negative. But I'll explain why evil. So I was really surprised. But evil is available. Okay, So here's so much to do.

If any issuers listening. What you do is take the least the worst E s G rank stocks, called the anti E s G t F, slap evil on it, and you'll get investors who are just so sick and tired of the E s G righteousness who will buy it just for just to send a message. I can't believe this doesn't exist. Yeah, Mike's buying this as we speak. Now, that's it's not my Eric pitched this one to me a couple times. I don't disagree with it as a good investment idea, but as like you know, we all

have these gate sepers. We deal with all these things. So like you're always thinking about will this product affect by other products? Right? So how am I going to have a social justice fund and a Shariah compliant fund in my trust next to Evil. It's not gonna happen. Yeah, there's only a few issuers who I think could like do this and it would not mess with their other products. But it could be a family there, Mike, come on, I think I think this is for Advisor shares. Let's

send it to Noah. By the way, Evil was Suzanne Woollie's idea for E t F on our E t F Chank episode a couple of years ago. All right, here's another one UM which I thought r j k T, which is for reject because we have this idea for factor rejects. Our j KT is available, all right, so Ethanacio, so my team will be happy about that. Here's another one b r r R for money printer go burr. Oh Man, you know what. You sent me that one, but I didn't seem it's not on my list here,

I didn't check that. I bet it's taken. I mean I would that that should be scooped up in a heartbeat anyway. All right, well, speaking of that, I also asked about fed F E d F E D is currently reserved. Of course, you think do you think Jay sitting on that one? Did you check j pow? J Pow? I checked, and j pow is also reserved. Somebody reserved j p That's awesome. That's hardcore. I may have come up with something for my name, but Eric, can you think of anything better for for what to do with

my name? No, I would just think of like stocks, stroll likes. Yeah, that was what I was going to go with, which I think that will be a thing. I'll stand over my shortlist, foul. I have a question back to back to Claire's question about l m What was it l M AO, what about like O M f G. Not really think if it's available, but whether or not that would violent rules? Like Laura, if I came to you, would you edit me out for even

trying to get up? That's awesome because there's there's an Oppenheimer fund O MFL and every time I see it, I'm like, man one degree away from you might have a pretty fun job. There's a lot of side chat chatter coming out of that equation. Yeah, that's great. One probably sees things all right before we wrap. We we always end with asking people their favorite tickers. That is not that is not your own, Mike, what's your favorite ticker that is not your own? So karma k R

m A um. Two reasons. I love the concept, you get it one second. And second reason is my business partner, Guillermo came up with it and I love it just like it's. Every time I see that fund, I think of him. Laura, I have to say the favorite ticker, but it was never used because the company decided not to use it as fool. Very political of you, but I like that. That was good. Um. And and Phil, you know I love tail the tail risk funds from Cambria.

It's real simple, straightforward. But I especially love it because it pars now with fail for the global tail risks, which is perfect. Good. Yeah, that's the family concept. He's got jail and for chunk as well. He's got a couple of them, all in the family, Mike, Laura, Phil Claire, thanks so much for joining us on Trillions. This is one I appreciate it. Bill. You better say something thank you. I thought I did right now. Thanks thanks for listening

to Trillions until next time. You can find us on the Bloomberg terminal, Bloomberg dot com, Apple Podcast, Spotify, and whatever else. You'd like to listen. We'd love to hear from you. We're on Twitter. I'm at Joel Webber Show. He's at Eric Baltunas. This episode of Tryan's was produced by Magnus Hendrickson. Francesca Levie is the head of Bloomberg podcast by m h m hm m m m