Vanderbilt University professor Robert Whaley may have invented the CBOE Market Volatility Index, but he's not crazy about products based on his creation, reports Barron's.

In an upcoming paper he wrote for the Journal of Portfolio Management, Whaley declared that ETFs and other products following the VIX are  ”not suitable buy-and-hold investments” and “virtually guaranteed to lose money through time," according to Barron's. 

Edited by: Tommy Fernandez


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