UBS' $2B Man, Kweku Adoboli, And The Perils Of ETFs |
| September 16, 2011 | September 2011 Bond Updates |
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The $2 billion rogue trader scandal that has engulfed UBS has brought exchange traded-funds back under scrutiny, as details emerge on how one man managed to essentially erase a global bank’s whole third quarter profits. While ETFs appear safe on paper, giving investors one more tool to manage risk, their precipitous emergence onto the world of finance has “uncanny historical echoes” with the world of collaterized debt that brought the global financial system to its knees. |
| View more at: http://www.forbes.com/sites/afontevecchia/2011/09/16/ubs-2b-man-kweku-adoboli-and-the-perils-of-etfs/ |
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