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Index Universe - 'Boost CEO: Fed Wrong On Geared ETPs'

Wednesday 28th August '13

"It appears to us that Tuzun’s main conclusion is that the daily rebalance of S&L ETFs, which naturally occurs in the same direction in which the market is moving, could trigger a “cascade” reaction leading to a market crash. Tuzun provocatively titles his paper “Are Leveraged and Inverse ETFs the New Portfolio Insurers?” The comparison with “Portfolio Insurers” is clearly designed to grab attention rather than add anything to the analysis." 


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