The Illusory Bargain

Ralph Lehman has spent twenty years managing portfolios for clients and
advising them on investment, tax, estate, and financial planning issues. When
he first encountered ETFs, he was intrigued by this hybrid security that was
changing how people could invest in the markets. He began researching the ETF's
history and noticed that no one had written a full account of their incredible
story. What began as hobby of ordinary research and several curious phone calls
progressed into writing a book on the story of how the first ETFs were
developed.



Ralph works for a financial firm that advises defined benefit and defined
contribution retirement plans on their investments. He is an avid reader and
enjoys a broad range of history-American, financial, economic, ancient Greek
and Roman, and early Church. Ralph and his wife Charlotte reside in Knoxville,
Tennessee, along with their pet Brittany, Rocky.