ETF Lets You Play in Private Equity

I'm not sure why I should care about investing in private equity, but I know it must be important because the financial media tells us it is.

So, to offer private equity to the masses, PowerShares issued the Listed Private Equity Portfolio (PSP Quote). The fund will own more than 30 companies that are involved one way or another with private equity, corresponding to the Red Rocks Listed Private Equity Index.

I tend to give the benefit of the doubt to new ideas, but this one seems like a stretch. In all seriousness, people interested in this part of the market are looking for investments that garner high returns with a low correlation to the stock market. ...