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Podcast: Money Life with Chuck Jaffe
Episode: Devilish details for new ETF promising market gains with no losses ever
Description: Matt Kaufman, head of ETFs at Calamos Investments, discusses the firm's new "structured protection ETFs," in which a fund owner gets exposure to a market index but gives up some upside potential in exchange for protection against losses. The funds sound like a substitute for stocks but, akin to equity index products and other financial hybrids built to avoid losses, are a more suitable substitute for bank savings accounts and other cash investments. Kaufman says the products are a reflection of the times, where many investors are tired of the volatility and nervous for the future and want some...