Will ETF Picking Replace Stock Picking?

The video discusses the evolution and benefits of ETFs, highlighting their ability to serve both institutional and retail markets. It explains the concept of ETF managed portfolios and the challenges faced in the ETF market, such as the shift from stock picking to thematic ETFs. The video also explores active management strategies for ETFs, emphasizing macroeconomic factors and global asset allocation techniques.

In what ways can ETFs democratize investing according to the text?

What does the speaker mean by 'active management of passive exposures'?