US roundtable: The best defence


On June 21, 2006, University of Chicago professor Janet Tavakoli spoke out against the $75 billion US structured products industry. With substantial coverage in the Wall Street Journal, on CNBC, and a followup press release, Tavakoli questioned the virtues of structured products as an investment class. Purchasers run the risk of “buying a tricycle at Ferrari prices”, she said, adding that “investors can lose more than their original investment”. In effect, Tavakoli painted structured product

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