Wednesday, February 7, 2018

GAMBLING XIV

An exchange traded instrument, the VelocityShares Daily Inverse Vix-short-term exchange-traded note, rose to $2 billion by harnessing futures on the Cboe Volatility Index. The note with the symbol XIV had a 46% compound annual return from its inception in 2010.

Unfortunately...95% of what was there is gone...leaving about $15 million to be divided among 100 million disconsolate souls. They lost their shirts when a margin call erupted and their guide jumped ship. Picking through wreckage for belongings never easy...but...survivors* always do,(WSJ B-16;02-07-18).
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*BITCOIN has a similar history of dangerous reef...yet...risk-takers...looking for that incredible thrill of victory...undaunted invest...buy...sell...laugh...cry...and...never cease to look around the next corner...open that unassuming door....or...grab rainbow looking for more.

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