|||An essential resource for those wanting to understand the intricacies of Leveraged Exchange Traded Funds, Mssrs. Charupat and Miu offer an in-depth examination of the operations of, the mathematics behind, and the general utility of, LETFs. This book is a mus
Leveraged Exchange-Traded Funds (LETFs) are publicly-traded funds that promise to provide daily returns that are in a multiple (positive or negative) of the returns on an index. To meet that promise, the funds use leverage, which is typically obtained through derivatives such as futures contracts, forward contracts, and total-return swaps. As of the end of 2012, there were over 250 LETFs in North America with total assets of approximately $32.24 billion. While the amoun...
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