How to Invest for the Age of ETFs

To the Editor:
Regarding “ETFs Are Eating the World. The Right—and Wrong—Ways to Invest” (Cover Story, Funds Quarterly, July 3), direct ownership of bonds is the way to go. Bond funds are poor proxies for bonds. The same holds true for preferred stocks, as broad diversification of preferred stocks can destroy returns. Compare the fund inception price for ETFs like PFF, PGX, and SPFF versus the price today. These funds went through periods of major capital loss and never recovered.

N. Ganguli
On Barrons.com

Trump’s Tariff Push

To the Editor:
I predict that increased tariffs will hurt the economy more than they help (“What’s Next in President Trump’s Tariff Showdown,” July 3). If the government made small investments in private companies, we would not have such a large trade deficit. The internet, space travel, weapons systems, chips, etc., are examples where we could create surpluses from those investments.

Curtis Turchin
On Barrons.com

Tweaks to Medicaid

To the Editor:
I find the article “What Republicans’ Medicaid Cuts Would Mean for Retirees” (Retirement, June 26) misleading. Republican measures are intended to reduce the rate of increase by cutting out waste, fraud, and abuse. These actions will help preserve Medicaid funding for those for whom it was originally intended, including the retired elderly that this article claims to care about. If nothing is done to control federal spending and reduce deficits and the debt, eventually Medicaid won’t be available for anyone.

Steve Lloyd
Cheyenne, Wyo.

Clean Energy’s Future

To the Editor:
It is troubling to see our country falling behind in the development of energy technologies and the planning needed for future electrical transmission systems (“Clean Energy Got Hit Hard in the Tax Bill. Some Players Still Have a Way to Win,” July 2). The lack of common sense in developing an integrated energy approach cannot be achieved by shortsighted politics and fossil fuels only. Advancing energy technology takes funding and encouragement to achieve economically sustainable energy alternatives.

Gary Earls
On Barrons.com

The Travel Revival

To the Editor:
I was hoping to see a mention of Walt Disney in “Travel Stocks Could Offer Investors a Glorious Trip” (Q&A, July 3). Its Adventures by Disney division has perfected guided travel with curated itineraries to various global destinations. It should be a big beneficiary of the travel boom.

Satish Gupta
Highland Heights, Ohio

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