Part 4

Chicago Board of Options Exchange (CBOE) Builds The VIX

For most of human history, if you were a victim of the regular fits and starts that affect commerce on Earth, you were pretty much out of luck. Of course, there were old versions of state bailouts every once and a while, but generally, the risk was not a very easy thing to manage. One lousy season or one bad storm could often ruin the farm or the business. This problem eventually led to the establishment of futures markets for agricultural commodities.

The Chicago Futures Exchange (CFE) ...

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