Investments in a specific sector of the economy can perform a lot better than investing in a broad index. The problem is often in which sector one should invest, when to get in, when to get out and which companies one should buy.

A sector that looks very promising to me is the asset management and trading sector. As people get wealthier they trade more often and they need asset management services. Up to now it was not possible to invest in this sector via an ETF. Recently this gap was filled by a new global ETF investing in brokers, exchanges and asset management: Claymore Global Exchanges/Brokers, EXB.

At the moment the expenses of the fund are at least 0.65%. The fund is a global fund but about two thirds of its assets are invested in the US.

Furthermore the average PE was 28 on May 31, 2007. This figure is too high for me. Especially since brokers, and exchanges and asset management companies suffer from price erosion. In the last couple of years the prices for trading and asset management have significantly decreased.