There Ain’t No Such Thing as a Free Lunch

Citations · 4

• “a collar strategy which buys a put option to mitigate downside risk and pays for this protection by selling a call option”

  p#2 · confidence 95%

• “Our latest piece on Buffer Funds appears in the current issue of the Journal of Portfolio Management. Once again, and with more analysis (and co-authors) than our two previous posts on the topic, we find these products don't hold up to scrutiny, either empirically or theoretically.”

  p#5 · confidence 95%

• “Buffer funds by and large have sold investors the promise of comfort, cloaked in complexity, at the cost of risk-adjusted returns.”

  p#7 · confidence 95%

• “there are simpler, less expensive, and more effective ways to deal with the risk of equity markets”

  p#7 · confidence 94%