Part 3: "What all the products had in common was the potential to deliver robust returns at a time when economic growth was slow and a mountain of sovereign bonds around the world was offering investors no income at all.
Money manager ProShares made a name for itself focusing on riskier funds that would double or even triple the daily returns of conventional products, expanding its lineup from a handful of funds in 2006 to more than 130 ETFs today. Brokers working for Citigroup Inc., Morgan Stanley & Co., UBS and Wells Fargo & Co. sold billions of dollars of risky exchange-traded funds, or ETFs, in 2008 and 2009.
Some traders said large asset managers, turned off by the complexity, mixed record and relatively high fees, hardly ever bought the products.
“If institutions aren’t buying this, the retail investor shouldn’t be either. Otherwise they’re the sucker at the poker table that doesn’t know it,” said Larry Swedroe, chief research officer at wealth-management firm Buckingham Wealth Partners. “If a product is so complex that you can’t explain it to your partner, then you shouldn’t buy it.”[end of part 3]
Market Data 
Markets 
