We can now add yet another entry to the long list of overly complex financial products that have been designed, built and levered before blowing up in investors' faces, writes Joseph Amato, president and chief investment officer for equities at Neuberger Berman.
For two years, equity markets kept going up and the best-known measure of implied market volatility - the CBOE Volatility Index, or VIX - seemed trapped, incredibly, below 10. Inevitably, structured...
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