Editor's Note
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Fortunately, the subject of index customization lends itself quite nicely to a diverse array of topics-and we took advantage of that to bring in some very strong authors from across the index industry. In one small issue we've got international covered with Peter and Carmen; fixed-income by Steve Berkley, who is the head of the fixed-income indexes group at Lehman Brothers; ETFs, from Gus Fleites, who heads up an ETF and managed-accounts group at State Street Global Advisors; and derivatives by Matthew Moran, who is in charge of the educational effort at the Chicago Board Options Exchange. I thoroughly enjoyed all of the articles. Peter's offers an excellent overview of equity index customization, and Steve's fixed-income piece is highly informative and exceptionally well-written. Gus provides what is probably the best advisor-focused article on ETFs I've read, while Matt sheds some interesting light on using covered-call strategies to dampen risk and buffer returns. If all that weren't enough, and I'm sure you'll agree that it is, this issue is also home to our first annual index survey. With prizes galore, provocative questions and an open opportunity for you and your friends to pick up free subscriptions to The Journal of Indexes, it's sure to please. Can you recall ever having had so much darn fun with indexes? Simply complete and mail or fax us the survey that has arrived with your copy of The Journal of Indexes, or return it by hand to our booth at the Super Bowl of Indexing in Phoenix. If someone has been rude enough to have already sent in the survey by the time you get your hands on The Journal of Indexes, you can also complete it electronically on journalofindexes.com. In addition to the survey (results of which will run in the Q1 2003 issue) we're changing the look a bit, bringing it more into line with journalofindexes.com and adding clever photographs to the cover. We're also running the Curmudgeon's Corner on the back page in a determined effort to shed some comic light on the Felon's Index, and handicap the chances of the current crop of alleged felons at claiming the Champion Felon title. I've been dying to bring in the phrase 'worsted wool perp walk' that was so rudely excised from Brad's felon piece owing to space limitations, so there it is. I won't keep you any longer. Let's … get … ready … to … index.  |
The idea for this issue originally materialized in a discussion I was having with the FTSE Americas people. It is fitting then, that the issue kicks off with an article by Peter Wall and Carmen Campollo of FTSE. Peter and Carmen do a good job covering all of the primary reasons investors use customized indexes, with a particular focus on international equities and socially responsible investing.
