CHICAGO -- Many people think that investing should be exciting. I couldn’t disagree more. If you or your clients are enjoying investing, then you may be repeating the fear and greed cycle of buying high and selling low. As I say a few thousand times a year, I think investing should be dull.

So I was a bit nervous as the three giants of the ETF industry -- Blackrock's iShares, Vanguard, and State Street -- discussed their future at the Morningstar conference last week. I braced myself to hear about "new and exciting" ETFs like different alternative or triple-levered inverse funds. I can't believe I made it through the whole session without hearing such nonsense.

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