My favorite joke a couple years back was this...
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âDirexion is proud to announce on Friday the 13th the worldâs first pair of 100x leveraged ETFs: Direxion Daily Nasdaq 100 Bull 100x Shares (SOAR) and Direxion Daily Nasdaq 100 Bear 100x Shares (SINK). The investments seek to replicate, net of expenses, 10,000% of the daily performance of the Nasdaq in the case of SOAR, and 10,000% of the inverse daily performance in the case of SINK. The funds will invest at least 80% of assets in securites that comprise the index. They will also utilize financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The funds are nondiversified.â