Up until a few years ago, easy money could be made every time a stock index announced an upcoming change. For example, when the Russell 2000 announced the addition of new stock, "easy money" could be made by simply purchasing the new stock because the index funds would eventually purchase so many shares that it would drive the price up.
Unfortunately, the index funds "wised-up" to this situation and made procedural changes to keep it from happening again. However, similar "easy money" seems to still exists among Exchange Traded Funds (ETFs). For example, the Silver ETF that launched in 2006 pushed silver prices to multi-decade highs. It's unclear when the next new ETF will be announced, however a quick survey of the industry suggests we are long overdue for a Global Exchange ETF.
If Barclay's or State Street or some other ETF creator announced a new Global Exchange ETF, it would probably include some of the following stocks:
and international exchanges like:
London Stock Exchange
Hong Kong Exchanges and Clearing
Australian Securities Exchange
It's uncertain whether a Global Exchange ETF will ever be launched, however it wouldn't surprise me to see one sooner than later based on the explosive growth in new ETF's. Regardless, I like the exchanges in general for their strong foothold within the ever growing capital markets.