Speaker 1: Welcome to Trillian's.
Speaker 2: I'm Joel Webber and I'm Eric Balchernas.
Speaker 1: Okay, Eric, We on occasion have done special episodes, and
Speaker 1: we've been thinking about this one for a while. We're
Speaker 1: going to do a trivia episode.
Speaker 2: Yeah, we've been thinking about this for like years literally,
Speaker 2: and we were there we're gonna do it at one
Speaker 2: of the ETF conferences, but then COVID hit and canceled it,
Speaker 2: and so it was going to be on stage and
Speaker 2: then I heard nature Aci of ETF Prime is going
Speaker 2: to do it. I didn't hear anything about that. So look,
Speaker 2: we're just going to do it, and we're excited. This
Speaker 2: is going to be a very fun episode. I hope,
Speaker 2: and I hope you can learn something. This trivia game
Speaker 2: has questions that are hopefully educational to everybody, but put
Speaker 2: out there in a fun way.
Speaker 1: So we have four guests on two teams. Who are they?
Speaker 2: So we have Laura Krieger from Vetaphi who's teamed up
Speaker 2: with Athanasio, Sarah Fagas from Bloomberg Intelligence, so VETAFI Bloomberg Combo,
Speaker 2: and then we have Katie Greifeld from the News and
Speaker 2: Todd Rosenbluth, also from Vetefy, So we sort of have
Speaker 2: mixed up Vetefy and Bloomberg here. I don't know if
Speaker 2: you guys thought of a team name, but I'll say
Speaker 2: Team A and Team B. Weow okay, winning team Oh no, no,
Speaker 2: winning the arbitrage.
Speaker 1: Okay, So Team A, Team B. Twenty one questions divided
Speaker 1: into three parts.
Speaker 2: Yes, first round the question is worth one point, Second
Speaker 2: round two, third round three points. So the questions get harder.
Speaker 2: Then there's gonna be like a final Jeopardy type question
Speaker 2: at the end where you can risk as many of
Speaker 2: your points as you want. You'll hear the question first,
Speaker 2: and then the contest will be over and the winner
Speaker 2: get sushi lunch, which is one of my more favorite
Speaker 2: things to let us. Yes, so there is something at
Speaker 2: stake here, and if you miss the question, you lose
Speaker 2: a point. So if you hit the button and you're wrong,
Speaker 2: there's a cost to that that would hopefully keep you
Speaker 2: from just banging the button after every question is asked.
Speaker 1: Let's hear that button actually all right? This time on
Speaker 1: trillions ETF Trivia r Athanasios, Katie Todd, Welcome to Trillian's.
Speaker 2: Good to be here.
Speaker 3: I'm thrilled to be here.
Speaker 1: Nice to see you guys.
Speaker 2: Thanks for having us.
Speaker 1: Okay, I want to let everybody hear your voices. Team A,
Speaker 1: Laura Athanasios, let's hear your voice. This is my voice.
Speaker 3: This is my voice too.
Speaker 1: And Team B Katie Todd.
Speaker 3: My name is Katie Gryfeld and.
Speaker 2: I'm Todd Rosenblue.
Speaker 1: All right, here we go. One point questions? What is
Speaker 1: the biggest bond e t F buy assets?
Speaker 2: Okay, Team B, It's Vanguard Total Bond INDEXTF and.
Speaker 1: The ticker is b n D.
Speaker 2: There we go. Nice.
Speaker 1: Correct on the board.
Speaker 2: What ETF did it overtake? No, that's that's just so.
Speaker 2: That's not a point question correct, Good job, Thank you
Speaker 2: crushing you guys.
Speaker 1: Okay, question question two, we got a bonus point for that?
Speaker 1: Or no? No, we'll tell you when there's a bonus point.
Speaker 1: That's just him being opportunistic. Question two. In twenty eighteen,
Speaker 1: Volmageddon caused Twitch Exchange traded notes to go bust.
Speaker 2: Look at it over?
Speaker 1: Question? Is it like Jeopardy.
Speaker 2: One syllable hit? I don't care?
Speaker 1: What is x I V? There we go direct Team A, Congratulations,
Speaker 1: you're on the board. Were tied up?
Speaker 2: Wow, it's a horse race all the sudden. I told
Speaker 2: these are one point questions, so you should get them.
Speaker 2: I would hope.
Speaker 1: Question three four ETFs track the S and P five
Speaker 1: hundred index. Can you name all four? Team B?
Speaker 2: So we have Spy, s p Y, I, V V
Speaker 2: v O O and s P l G.
Speaker 1: Congratulations.
Speaker 2: SPLG is the tricky one that's sort of like the
Speaker 2: fourth of ego. It just doesn't fit.
Speaker 3: There's only four.
Speaker 1: Well equal weighted. There's additional Yeah, doesn't count. We didn't
Speaker 1: say that.
Speaker 2: Okay, I'm glad no one like Needle us for that.
Speaker 2: Thank you.
Speaker 1: Question for one of the biggest names and ETFs. Holly
Speaker 1: Framstead runs Capital Group's ETF business. Which from did she
Speaker 1: come from? Question Jeam B who was hovering and kept
Speaker 1: getting closer and closer to the B Blackrock.
Speaker 2: Yes, wow, three tom one, you want to test it?
Speaker 3: I mean I feel like that answer is true of
Speaker 3: so many people you have industry.
Speaker 2: Yea, many people have come from black Rock. I mean
Speaker 2: you probably could have just said Blackrock.
Speaker 1: Question five. Spy was the first e TF ever launched.
Speaker 1: What was the second team? A M d Y very good.
Speaker 2: That was the hardest for a round. It's the mid
Speaker 2: cap one, which, by the way, his to this day,
Speaker 2: I'll performed Spy and the small caps. Who knew you did?
Speaker 2: I did? I did that?
Speaker 1: Okay? Question six, Schwab has the lowest cost junk bond etf.
Speaker 1: What is the fee?
Speaker 2: Team B The fee is three basis points.
Speaker 1: There we go.
Speaker 3: Actually just wrote that up ce y b is a ticker.
Speaker 1: There we go.
Speaker 2: You don't get extra credits. And by the way, Schwab
Speaker 2: at three basis points, I mean that is it's crazy.
Speaker 2: It's a non vanguardian category with like dirt cheap feet.
Speaker 3: Can I give you a headline? All of Schwab's bond
Speaker 3: ETFs cost three basis points?
Speaker 1: There we go, Thanking, Katie Grand You're welcome. Question seven,
Speaker 1: this will be the last one of our first round.
Speaker 1: After this, it's much more difficult. Who famously said ETFs
Speaker 1: are like handing an arsonist a match Eric teammate John Bogel, Jack.
Speaker 2: Jack somebody. Yeah he was not a fan. Yeah, yeah,
Speaker 2: somebody should write a book about him.
Speaker 1: Yeah.
Speaker 2: He also said the plug marketing invention of the twenty
Speaker 2: first century. So yeah, his language Round ets was hilarious. Okay,
Speaker 2: here what we got the end of round one, where
Speaker 2: do we ad eric? Team B has four, teammate has three? Nice?
Speaker 2: Nice being closer than I expect. I know, I'm it's good.
Speaker 3: Who did you expect to do better?
Speaker 1: No comment? In round two? These are going to be
Speaker 1: two point questions. You only lose one if you get
Speaker 1: it wrong though, Okay, So question number eight, can you
Speaker 1: name two of the top three ETFs by year to date? Flows?
Speaker 3: Wait, didn't work?
Speaker 1: No, you gotta make the noise hit it, but it
Speaker 1: didn't go off?
Speaker 2: Ahead, you may have a chance. He yes, view, that's right,
Speaker 2: very good. Can anyone name the third?
Speaker 1: Not for points?
Speaker 3: I know?
Speaker 2: No? Close? You're good that you did though too, that
Speaker 2: you did it's another flow getter, constant guy I V
Speaker 2: V Yeah, there you go.
Speaker 1: Nice work. Okay.
Speaker 2: Okay, so that means Team A got to there?
Speaker 3: Okay, brutal, are you going to get it right?
Speaker 1: Yes? Yes, Now it's.
Speaker 3: Definitely gonna go T L T right and then we
Speaker 3: were going to confer.
Speaker 1: Okay, Question number nine, which country is home to the
Speaker 1: biggest e t F outside of North America?
Speaker 2: Mm hmm, you guys are so u eccentric?
Speaker 1: Need a shot clock? It gets kind of awkward here,
Speaker 1: Dead air at some point. Okay, question or Team A
Speaker 1: is going to go for it. It's got to be China.
Speaker 1: Oh wrong.
Speaker 2: A noise for the wrong. It is Japan, but you
Speaker 2: didn't just.
Speaker 1: Thinking it's Japan. Here's Japan.
Speaker 2: Here's the ticker in case you're curious. It's one of
Speaker 2: those Asia tickers one three zero six. JP somehow has
Speaker 2: awful one hundred and thirty eight billion dollars. Japan loves
Speaker 2: that guy. It's like number seven if you go all
Speaker 2: globals assets.
Speaker 1: Pretty igh stumped them Japan in question China. Question number ten?
Speaker 2: Hold on, who just missed it? Do I got to
Speaker 2: subtract you?
Speaker 1: See?
Speaker 2: Okay, you lose a point on It's tied up.
Speaker 3: Now we wanted to give them a fight. Wait, what
Speaker 3: are we fighting for?
Speaker 2: Sushi? Lunch?
Speaker 3: Right right?
Speaker 2: Joel and Eric?
Speaker 1: Question ten? Which company stock is owned by the largest
Speaker 1: number of US domiciled ETFs?
Speaker 2: Team B Apple.
Speaker 1: I'm going to go Tesla wrong. Wow, double strikes.
Speaker 2: The answer is Microsoft. This is so fun.
Speaker 3: I'm learning.
Speaker 2: Let me give you the.
Speaker 1: Numbers so my audience can attle from here on out
Speaker 1: if I have.
Speaker 2: Some humiliating our Microsoft is owned by five hundred and
Speaker 2: thirty three US ETF that seventeen percent of the total.
Speaker 2: Apple is for sixty six, so it wasn't even that close.
Speaker 2: Tesla is a lot lower. Actually, wow, I thought it
Speaker 2: was Apple too, to be honest. So you both lost
Speaker 2: the point.
Speaker 3: Cool, so we're still tied.
Speaker 2: Yep, there's three to three.
Speaker 3: As long as we're a brush negative, I think will
Speaker 3: be considered that a victory.
Speaker 1: All right. Question eleven. Black Rock has the most ETFs
Speaker 1: with four hundred and nineteen. Who has the second most
Speaker 1: team in Pasco? Correct? Wow? Do you know how many?
Speaker 3: It's two hundred and six?
Speaker 1: Well, seventeen, that is.
Speaker 2: I thought you all would miss that. I wouldn't get
Speaker 2: State Street. But Invesco is right. But guess what First
Speaker 2: Trust is only two behind him? Did you just look
Speaker 2: at that number? Now?
Speaker 3: All?
Speaker 2: Yeah?
Speaker 1: I like that.
Speaker 2: That is it's almost a three pointer.
Speaker 1: Very good? Okay, okay. Question twelve, which three E t
Speaker 1: F brands are now part of Invesco GM it's new
Speaker 1: strategy buzz then figure it out power shares?
Speaker 2: Yes, uh, uh, Oppenheimer and Gugenheim. Correct, yes, nice, we
Speaker 2: need to sugar. He worked at Oppenheimer, so it's a
Speaker 2: little bit of an edge there. But I think that's
Speaker 2: a doable one. Todd knew it also, I was gonna
Speaker 2: go with right X is a fourth one? Yeah? Extra credit?
Speaker 2: Right X is part of the is it extra credit
Speaker 2: for him on the side? Okay, feel good? Extra credit
Speaker 2: psychic psychic point yeah?
Speaker 3: Okay, so hold on.
Speaker 2: So that's two more for a So that's seven to three.
Speaker 3: I think the power goes out or something, okay.
Speaker 1: Question thirteen. Who was Nate mose right hand man when
Speaker 1: creating the first ETF spy team?
Speaker 3: Jim Ross?
Speaker 2: I can't think of his name?
Speaker 1: Now?
Speaker 3: Who were the I can't think? Can you describe him?
Speaker 2: No's they talk about me but I don't want.
Speaker 3: To do Sorry, I got I got cocky. I don't know.
Speaker 1: Will you be answering tm B?
Speaker 2: We're passing you guys need to read my first book,
Speaker 2: Shameless Plug. Again it's Steve Bloom. Yeah, I wouldn't so
Speaker 2: he's out of the industry now, but he worked at
Speaker 2: AMEX with Now Jim Ross came along and he did
Speaker 2: the first creation for spy.
Speaker 3: Even he was the coffee guy at first.
Speaker 2: He was a little down the road. Wait, how many
Speaker 2: points you lose with that one?
Speaker 1: Just one? Just one?
Speaker 3: In fact, No, we didn't lose any points. No, you
Speaker 3: got sixty three hose clever.
Speaker 1: Okay, okay, okay. This would be the last question of
Speaker 1: round two. What was the last ETF to win the
Speaker 1: annual flow crown that wasn't a Vanguard or black Rock ETF?
Speaker 1: Team a figure buzzing to figure it out.
Speaker 2: I don't want to wait till they get it wrong.
Speaker 1: You might have to start penalizing this move.
Speaker 2: Come on, you go for it for you.
Speaker 1: I think it's d x J correct correct. Which is
Speaker 1: can you get the year two thousand and fifteen.
Speaker 2: Thirteen ten years ago? It's been a ten year run
Speaker 2: for Vanguard and black Rock.
Speaker 3: That's a good headline. Thank you.
Speaker 1: There's a lot of temptation.
Speaker 3: It will make my year endpiece slightly more interesting.
Speaker 2: So team has eight and Team B has three. But
Speaker 2: now every question is worth three points.
Speaker 1: Okay.
Speaker 2: So this is where two of these come on.
Speaker 1: Is where it gets really serious and the questions get
Speaker 1: a little bit harder. I know, I know. How do
Speaker 1: you guys feel? How do you feel good?
Speaker 2: Keep in mind, by the way, keep in mind, if
Speaker 2: you miss a three point question, you still lose one point.
Speaker 2: As the stakes get hired, almost gets.
Speaker 1: There's something in your interest to have some strategy to
Speaker 1: consider here, t B, how do you feel not great?
Speaker 1: How do you feel great? Strategy of buzzing and then
Speaker 1: figuring it out.
Speaker 3: It seems like it's working for two.
Speaker 1: Do you have to learn from that? Yeah? Yeah, Shoot,
Speaker 1: first ask questions.
Speaker 2: No, then you talk for ten minutes, and then you
Speaker 2: then answer the question. All right from now on, only
Speaker 2: like three to four seconds of conference.
Speaker 1: Okay, okay. Question fifteen, what is the largest ETF of ETFs?
Speaker 3: Oh, that's a good question, and I don't know the answer, TMB.
Speaker 2: I think it's V thinks focus.
Speaker 3: That sounds great, let's do it.
Speaker 2: I think it's f V very good. Right back in
Speaker 2: the game. Yeah, wow, Daniel Jones throwing an eighty yard
Speaker 2: touchdown pass.
Speaker 3: I was about to say that. No, it wasn't.
Speaker 2: Eight to six.
Speaker 3: That's good.
Speaker 2: That was a tough one.
Speaker 1: Okay. Question sixteen, which firm today has the most active
Speaker 1: ETF assets?
Speaker 3: Team B dimentional?
Speaker 2: Yes, wow, nice, look at you guys now you're in
Speaker 2: the lead.
Speaker 1: Wow.
Speaker 3: I like that because you guys probably thought it was
Speaker 3: a trick question because you thought we'd say JP Morgan.
Speaker 2: But that's whose number two.
Speaker 3: I know, I know, no, yeah, you do know?
Speaker 1: Okay, Well, teammate, what does it feel like to have
Speaker 1: that leads away on you like that? And two questions
Speaker 1: around I'm.
Speaker 3: Kind of falling apart here.
Speaker 1: Runs. Don't let team be in your head.
Speaker 2: Whatever?
Speaker 3: Yeah, you know, I was just warming up, honestly.
Speaker 1: Okay. Question seventeen, which year saw the most ETF launches
Speaker 1: in the US.
Speaker 3: Surely we know this.
Speaker 1: Will team be figured out some struggles with the buzzer.
Speaker 3: Team B thinking someone yeah twenty one.
Speaker 1: No, Team B got it with twenty twenty one, correct,
Speaker 1: by the way, So I ran these I thought this
Speaker 1: was interesting.
Speaker 2: Three ninety six twenty twenty two was three ninety three though,
Speaker 2: so it was an edge above that year that was
Speaker 2: the hesitation. This year there's three forty eight, So this
Speaker 2: year could break the record.
Speaker 3: Believe, Yeah, which is weird. Yeah, because there's also been
Speaker 3: a lot of closures.
Speaker 2: Yeah, okay, so a lot of launches basically the last
Speaker 2: three years, about a thousand.
Speaker 1: This this one's interesting, little spicy number eighteen. ARC has
Speaker 1: two ETFs that are not actively managed? Can you name them?
Speaker 2: Both?
Speaker 1: Team A p r NT that's one and.
Speaker 2: I r L very well on top of that. Wow,
Speaker 2: So that's three D printing and the Israeli innovation.
Speaker 1: And obviously our Kathy Woods shop famous for being active.
Speaker 3: It's amazing that they have a three D printing UTF. Yeah,
Speaker 3: it's amazing that it's been around as long as it can.
Speaker 2: We got a ballgame roll. This is Team A has eleven,
Speaker 2: TEAMBS twelve.
Speaker 3: Alright, alright, nineteen.
Speaker 1: I didn't think what happens if it's a tie? Lunch
Speaker 1: gets a little bit more expensive.
Speaker 2: Well, the final jeopardy we show, we'll figure it out.
Speaker 2: I can think of a last minute question.
Speaker 1: Break the tie number nineteen. The only ETF to surpass
Speaker 1: spy and assets was GLD. I don't even know this question.
Speaker 2: Hold on you, guys in this case, I get it.
Speaker 2: Wait till the end.
Speaker 1: I think they should both lose one.
Speaker 2: I agree, doctor, just to make a point, just to
Speaker 2: make this point, just to my kids, send a message,
Speaker 2: natural consequences message. Okay, ten to eleven.
Speaker 1: Now now again, Now I'll finish the question. I mean,
Speaker 1: if you want to go ahead. The only e t
Speaker 1: F to surpass spy in assets was g l D,
Speaker 1: and it did it for only one day in which year?
Speaker 3: Shoot? I think you should just go for a might
Speaker 3: as well.
Speaker 1: Team B taunting but not even thinking about it. Well,
Speaker 1: maybe I'm encouraging, Maybe Todd is. There's a lot of
Speaker 1: silence whispering. I don't we would be the shot clock
Speaker 1: gonna run out here, I can't remember.
Speaker 3: Why not?
Speaker 1: Oh, team bow all right?
Speaker 2: Two thousand and four, noa off launch. Yeah, kind that's
Speaker 2: when it got a billion in the first three days.
Speaker 1: That's your famous okay, minus minus one teammate you want
Speaker 1: to try. That's one year of many off the board
Speaker 1: that you could choose from since they lost one.
Speaker 3: Do we get answer?
Speaker 2: No?
Speaker 1: What's just stuff?
Speaker 3: Yeah?
Speaker 1: Okay, all right. Twenty eleven I would have said financial
Speaker 1: cris time it.
Speaker 2: Took how to get assets? Yeah, twenty eleven was off.
Speaker 2: I think the European deck crisis were spy loss.
Speaker 3: So I'm claud We took a shot ten to ten.
Speaker 2: It's like a real football game ten ten.
Speaker 1: Okay, all right, Question twenty. I love this one.
Speaker 2: I do too.
Speaker 1: What is the best returning ETF of all time? Team?
Speaker 1: A very little delay and now a huddle.
Speaker 2: Hold on before you answer, you know we're talking about
Speaker 2: all ETFs.
Speaker 3: Them.
Speaker 2: Yes, okay, t QQQ wrong. Good guess but wrong.
Speaker 1: No, it was I don't know it is a teammate
Speaker 1: falls behind Team B. I'm going to figure it out.
Speaker 3: I think we should pass here.
Speaker 1: Yes, okay, Eric, you want to tell him?
Speaker 2: Yeah, the correct answer is teckl ECL. It's up fourteen
Speaker 2: six percent since launching in December two thousand and eight.
Speaker 1: Wow.
Speaker 2: So it launched at the perfect time. T QQQ is
Speaker 2: going on better runs. But when you launched at the
Speaker 2: end of the financial crisis, you caught the whole move up.
Speaker 2: Tqq is only half that, believe it or not.
Speaker 1: Wow. So we go from ten ten to nine ten.
Speaker 1: Team A behind we and we have this is our
Speaker 1: final question before final jeopardy.
Speaker 3: Alright, is it tough?
Speaker 2: So? I think it was. I thought of it though.
Speaker 3: What's the answer? Come on?
Speaker 1: Okay? So this is number twenty one? Okay, slightly different.
Speaker 1: What does iop V stand for?
Speaker 2: Oh?
Speaker 3: I don't even know what, though, Dave not. It's going
Speaker 3: to be so mad that I don't know this good
Speaker 3: thing he's not here? Is that a tick or what
Speaker 3: is it?
Speaker 1: Just stay quiet, Just stay quiet, Eric, No, we might
Speaker 1: need to call it unless Team A wants to attempt to.
Speaker 3: Catch up here if they want to be legends, you know.
Speaker 1: Yeah, I mean there will be perhaps names Chiselden, Granted
Speaker 1: or something over this. I think we should call it.
Speaker 2: Yeah, okay, Eric, So this is the official name for
Speaker 2: what's called the I NAV. Yeah, and the answer is
Speaker 2: I got a look because I always forget it indicated
Speaker 2: optimized portfolio value, which is like, what's the value right
Speaker 2: now of the baskets the it's the Tuxedo Pooh version
Speaker 2: of the IAV name.
Speaker 3: Basically, that's never that information has never been in my brain.
Speaker 1: Eric, where through twenty one questions, what is our standing?
Speaker 2: Team A has nine, Team B has ten.
Speaker 1: This is way closer than I expected. I don't know
Speaker 1: who I expected to be in the lead, but yeah,
Speaker 1: and we've almost had a tie and then Team A
Speaker 1: just couldn't quite hold it together.
Speaker 2: Yeah, yeah, I mean, now it's really anybody's game. You
Speaker 2: guys are within you know, you're basically within one point.
Speaker 2: So so the way this is gonna work is Joel's
Speaker 2: gonna ask the question. You guys aren't buzzing anything. You're
Speaker 2: gonna confer with yourselves and write down a piece of paper,
Speaker 2: A what the answer is, and B how much you're
Speaker 2: gonna wager of your ten points?
Speaker 3: We don't have to participate.
Speaker 2: If we don't, you can put zero. But if they
Speaker 2: they wager three two, they would win if you wager zero.
Speaker 2: So there's two things going on here. Do you know
Speaker 2: the answer? And what are they gonna do? So this
Speaker 2: is like like a couple of dimensions.
Speaker 3: Of what is our score?
Speaker 1: Here is our final?
Speaker 2: You have nine points the way you have ten nine
Speaker 2: with for team A.
Speaker 1: Team B has ten points to wage with. How many
Speaker 1: ETFs has Vanguard closed ten nine, eight, seven, six, five,
Speaker 1: four three?
Speaker 3: We want to do that.
Speaker 1: One? All right, let's put those pencils down.
Speaker 2: Take another two seconds. You want this to be right. Two?
Speaker 1: All right, now, pencils down. Team A. I want to
Speaker 1: hear from you first, how many points did you wager?
Speaker 1: You do have to answer when I ask you a question?
Speaker 1: How many points did you wager? D We put it
Speaker 1: all on the line, all not all? Note and your
Speaker 1: answer is two. Eric ahead, let's let's do Team B.
Speaker 3: We also said too, and we put two points.
Speaker 1: So Eric, let's do some quick math. That was wrong.
Speaker 1: First of all, Team A wipe themselves down.
Speaker 2: It's one. The answer is one it's the Vanguard Liquidity
Speaker 2: Factor et.
Speaker 3: Yeah, but that was their first US closure.
Speaker 1: US the japan one.
Speaker 2: Yeah, but I mean I don't know, Like it's okay,
Speaker 2: we went anyway, that's true.
Speaker 3: Well no, we said too as well. We waged nine,
Speaker 3: so if we got it right, then we would have
Speaker 3: been we would have.
Speaker 1: Gone Eric and.
Speaker 2: Hold on.
Speaker 1: I love this ending. This is exactly what list script,
Speaker 1: you know. I think the outcome here is like we
Speaker 1: just have to buy them all.
Speaker 3: Yeah, I like, yeah, we all win.
Speaker 1: Well, maybe I'm gonna takehim around.
Speaker 2: Answered in the US is one, yes, yeah, there was
Speaker 2: another one. We all for talk and we're just talking, talking,
Speaker 2: talking months after months after months. We all expected to
Speaker 2: be US unless we say global.
Speaker 3: But you said earlier you had a question that was
Speaker 3: all and then you and I you're so US centric.
Speaker 1: So so it's like black Eye for hair, which is
Speaker 1: a great way to end. It's not going to give.
Speaker 1: So I think there's a slight win for a team
Speaker 1: B here, but like barely, it's not one that they
Speaker 1: get to brag about.
Speaker 2: Really, I don't with another come up with another question
Speaker 2: right now?
Speaker 3: Yeah, we had this, we had to answer.
Speaker 1: We take a break and.
Speaker 2: Have this weird, or we could just or I could
Speaker 2: come back.
Speaker 1: I feel like we should arm wrestle or something. So
Speaker 1: there's got to be a win. Why don't we do
Speaker 1: a bonus round, same rules, and Eric and I will
Speaker 1: confer for a moment and we'll see if we can
Speaker 1: end this. Do they get the same point total that
Speaker 1: they had? We're just gonna scrub that one.
Speaker 2: Would just scrubbed the whole question, Throw it out? Does
Speaker 2: everybody agree to judge?
Speaker 1: Throw it out?
Speaker 3: Okay?
Speaker 1: Good, all right, we'll try again. Eric and I will
Speaker 1: step outside, will be that's my favorite ticker, and then
Speaker 1: you judge which one you think is the best. We
Speaker 1: had a couple more questions. Yeah, we put on the
Speaker 1: sidelines like B sides. We're going to bring one of
Speaker 1: them out and it will be our new final jeopardy.
Speaker 1: So I think everybody's still going to get a sushi lines.
Speaker 1: But there's like another one that comes sometime in the future.
Speaker 1: Here's the question. We're gonna do the same exact thing.
Speaker 1: So Team A still has nine points, Team B still
Speaker 1: has ten points. You can wager as many as you
Speaker 1: want of those points. What was the fastest et F
Speaker 1: to reach one billion in assets organically.
Speaker 3: Mm hmm ten nine still all seven.
Speaker 1: Six, five, four three two yeah one. Team B finished
Speaker 1: considerably early. Katie Greifield has her arms folded and crossed
Speaker 1: in front of her.
Speaker 2: Team A.
Speaker 1: You're still behind. Let's hear how many points you wagered?
Speaker 1: We wagered it all?
Speaker 3: Wow?
Speaker 1: Doubling down again?
Speaker 2: So all nine points?
Speaker 1: Team B, how much did you wager ten? Everybody's doubling down?
Speaker 3: This is it? This is it?
Speaker 2: So, so we won't say he's correct until you both answer, though.
Speaker 1: Okay, we want to go first. Okay, Team A, you
Speaker 1: still get to answer first. What is it? We said? Bido?
Speaker 1: And Team B biddoh.
Speaker 2: Katie's from the right side of the track. Yeah, he says, bido.
Speaker 2: What is that like?
Speaker 1: Okay, so, so Eric, what's the what's the answer here?
Speaker 2: Biddoh?
Speaker 1: Yeah?
Speaker 2: So this team won? No, No one says, I don't
Speaker 2: have to subtract a point or two? Got the pointy?
Speaker 2: Yeah you did, so you.
Speaker 1: Nicejongratulations At least you all kind of an asterisk squin,
Speaker 1: but I think you went farren square.
Speaker 2: Yeah, good job, and wait not to say you know
Speaker 2: how to put organically in there so you wouldn't bust
Speaker 2: my chops with the stupid black rockey. They put a
Speaker 2: billion in on day one.
Speaker 3: I like that you're trashing him at the end.
Speaker 1: He had to get that. I had to put her
Speaker 1: or we'd had another controversy on I can't wait to
Speaker 1: Laura Athanasios, Katie Todd, thanks so much for joining us
Speaker 1: on Trillions.
Speaker 3: Thank you, thanks for having us, Thanks for having us.
Speaker 1: Thanks for listening to Trillions until next time. You can
Speaker 1: find us on the Bloomberg Terminal, Bloomberg dot com, Apple Podcasts, Spotify,
Speaker 1: or wherever else you'd like to listen. We'd love to
Speaker 1: hear from you. We're on Twitter. I'm at Joel Webber Show.
Speaker 1: He's at Eric Balchunas. This episode of Trillions was produced
Speaker 1: by Magnus and Drickson. Bye