From an analytical perspective, From an analytical standpoint, Tom Lee, managing partner and the head of re at Fundstrat Global Advisors, speaks on CNBC's "The Exchange" on Oct.
Additionally, Adam Jeffery | CNBCAn ETF driven by Tom Lee, an unabashed bull on Wall Street with a big online fandom, just hit another milestone (which is quite significant).
His first exchange-traded fund Fundstrat Granny Shots US Large Cap ETF (GRNY) has surpassed $2 billion in assets under management in less than nine months since its inception in November.
It marks a rare success story in an industry where raising just 10% of that level can take years. In contrast, The speed to reach $2 billion ranks no. 1 out of 258 U.
-listed actively managed large-cap equity ETFs, according to Morningstar and FactSet data. GRNY, an actively managed ETF, invests in around 35 high-quality stocks in the S&P 500.
On the other hand, The data indicates that fund, with top holdings such as Robinhood and Oracle, is up more than 18% year to date, outperforming the S&P 500 by over 9 percentage points, in light of current trends.
The Fundstrat co-founder and former JPMorgan strategist gained a huge online ing by making bold calls on the market and communicating with investors frequently and timely.
However, "We want to make in our ETF understandable and transparent," Lee said in a statement (noteworthy indeed), considering recent developments.
"Granny shot" is a reference to shooting a basketball underhand at the free throw line where the player releases the ball from below the waist, in today's market environment.
For Fundstrat, it means identifying stocks that fall under multiple key investment themes over the next five to 10 years.
Those themes include energy and cyber security, an AI-category called global labor suppliers, and the impact of millennials.
The data indicates that Granny Shots fund has an expense ratio of 0 (an important development) (this bears monitoring). Disclosure: Tom Lee is a CNBC contributor, given current economic conditions.