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He probably is referring to the Rydex Ursa Fund which performs as the mirror
image of the S&P 500. That is, when the S&P falls 1% the Ursa fund rises 1%
and visa versa. However, the relationship is not inversely linear because the
fund hedges their position. As a result, it tends to fall less and rise more
as the S&P 500 rises/falls.
The fund is well suited to IRA accounts since these type a/cs cannot short the
market/stocks.
Rydex is head quartered in Maryland. Get the prospectus on their funds.
Jim Barone
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