This wonk podcast episode is primarily about whether passive investing is good for markets (and investors), but an idea that caught my ear is that we should have a means to invest in our local communities, but we don’t.
Right now, my biggest investment is in the US equity market. This is great for long-term returns, but it means my money has left the country where I live and isn’t making any tangible difference in my life. Why can’t I also make my local community better by investing in its businesses? In other words, why isn’t there an ETF for small businesses in Penetanguishene, Ontario?