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But we saved everything 🙂.
Jared Dillian recalls that in 2004, representatives from Proshares visited Lehman with a proposal to have him sign up as an authorized participant for their planned leveraged exchange-traded funds (ETFs).
Dillian notes his skeptical reaction to the idea at the time, directly questioning the proposition presented by Proshares.
Dillian has previously compared current bond market conditions to those seen in October 1987 and noted the potential for rapid moves in equities as investors monitor rate hikes, according to a recent market outlook. He has also pointed out that the U.S. deficit-to-GDP ratio stands at 6% today, down from 12% in 2010 but higher than the 3% level recorded in 2015, as detailed in a previous report. These observations inform his perspective on major financial products and developments.