"Don't let anyone buy in [to an ETF] who doesn't belong in it. They'll have a bad experience." Former iShares chief
Lee Kranefuss shared those words last week at the first
Morningstar ETF Invest Conference in Chicago, Chuck Jaffe
reports in today's
Wall Street Journal "Fund Track" column. Like Kranefuss, Jaffe argues that ETFs aren't for everyone, at least not yet.
"Ultimately, joining the ETF revolution requires feeling comfortable that the 'better tool' is better for you, given your individual circumstances and investment know-how," Jaffe writes, pointing to Kranefuss' remarks. "The average investor should live by that creed, and not buy into ETFs if they don't belong, lest they have that bad experience." 
Edited by:
Neil Anderson, Managing Editor
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