How investors lost 89% betting against China — even when their prediction was correct
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Investors betting against China through Direxion Daily FTSE China Bear 3X Shares (YANG) have faced significant losses, with the fund's value plummeting 99% over the past decade, closing near $28 today compared to $4,700 ten years ago. This decline is attributed to daily-reset leverage that exacerbates losses over time. In contrast, the iShares China Large-Cap ETF (FXI) has seen a 7% gain over the past year.
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