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Luck's Role In Leveraged ETFs

FYI: I get a lot of emails from ETF investors. And for every email I get asking what seems like a simple question, I always assume there are 1,000 other folks out there asking the exact same question.

With permission, I wanted to answer one of these emails publicly. I’ve paraphrased the question here for length:
Regards,
Ted
http://www.etf.com/sections/blog/lucks-role-leveraged-etfs?nopaging=1
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