I've been very impressed with the current crop of ETFs. I'm not a big fan of general indexing because I think its possible to pick and choose and outperform the market, which is what we see the best hedge funds do almost every year. We have many of the portfolios of those investors here at Stockpickr.

However, there's a lot of creativity in the latest batch of ETFs and I think we can pick and choose from the portfolios of those ETFs to find the right diversified portfolio for a long-term investor. In particular, I like seeing these ETFs in the "Stockpickr format". That is, by seeing at a glance which investors own each stock.

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Here are the ETFs that I think bear further watching:

The Ocean Tomo Patent index : This is a major market index that tracks the portfolio of diversified companies that the creators believe own valuable patents. According to Ocean Tomo, the index has outperformed the S&P500 by 310 annualized basis points over the ten year span ending September of 2006.

The creators use a proprietary software which tracks the patents issued by the US Patent and Trademark office and assigns value to each one.

The Clear Spinoff Index: This is an index designed to actively track stocks that are spin-offs from other companies, based on the idea that these companies can now better focus on their own specific strategy and unlock value.

The PowerShares Buyback Achievers Portfolio: Companies that have repurchased at least 5% or more of its outstanding shares for the trailing 12 months.

Sabrient Defender Index: Rebalanced quarterly its made up of companies that had positive returns the prior quarter AND performed well on down days.

Sabrient Insider: The Sabrient Insider Sentiment Index identifies 100 stocks, from a broad universe of U.S.-traded stocks and ADRs, that reflect favorable corporate insider buying trends (determined via the public filings of such corporate insiders) and recent earnings estimate increases by Wall Street analysts

Again, I think the best way to play with these ETFs is to pick a few stocks from among all the ETfs and also see which other hedge funds and mutual funds that match your style also own those stocks.