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Credit Suisse announces: ‘Life comes at you fast’

Summary:
“The nature of volatility is that it desensitizes over time,” he said. “Which is why the index has been tracking down for so long.”— Vix day trader Seth Golden in the New York Times last August.Credit Suisse says that a popular exchange-traded note that was designed to bet against rising volatility will be liquidated on Feb. 21 after the VelocityShares Daily Inverse VIX Short Term ETN lost more than 80% of its value in after-hours trade, triggering a technical liquidation, or “acceleration” event. “On the acceleration date, investors will receive a cash payment per ETN in an amount equal to the closing indicative value of XIV on the accelerated valuation date. The last day of trading for XIV is expected to be February 20, 2018. As of the date hereof, Credit Suisse will no longer issue new

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“The nature of volatility is that it desensitizes...

Kadhim Shubber
He is a freelance journalist who first bought bitcoins so that he could buy a beer at The Pembury Tavern, Hackney’s bitcoin pub. He has reported for Slate, Wired, The Daily Telegraph, The Sunday Times and Ampp3d. He is currently studying for a Masters in Journalism at City University London.

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