Credit Suisse Opened Volatility Bets to Small Investors
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Michael Gamble, a 67-year-old retiree, doubled down on a volatility exchange-traded note backed by Credit Suisse Group AG last week as it declined to a record low price.
“When it started to fall, I bought more because I couldn’t believe how low it was going,” he said in a telephone interview. “I didn’t realize I was playing with a hand grenade.”