Dear Direxion – You Know What Happens At a BRIS, Right?

In case you don’t know what a Bris is, let me fill you in:  it’s a little party that Jews have when our male children are eight days old* where we gather in the living room, eat smoked fish, drink wine, and have a circumcision performed on the newborn.

Given the expressions we already have on Wall Street about being on the wrong side of a trade, such as “getting your head caved in,” or “getting your face ripped off**,”  one might think that Direxion would want to think twice about having a fund with the ticker $BRIS, which of course should expect one to, well, seriously – do you need me to draw it out for you?   And if BRIS – the 2x Bear BRIC Fund (that’s Brazil, Russia, India, China, levered up and short) didn’t already make you cross your legs, well then, fear not:  they’ve hired a new Mohel to inflict even more damage to your genitals:  two times leverage wasn’t enough: the fund has assets of less than $ 4MM and trades 1000 shares a day… solution?  Up the ante to 3x leverage!

oy vey.

-KD

* disclosure:  I have no children, and no positions in $BRIS

** Can you believe that The Reformed Broker put “TM” in SUPERSCRIPT in the URL?  That’s why he’s the man…

ps – if you’re going to leave comments about circumcision being barbaric/good/bad/evil/sexy/weird/anything else: save it. they will be deleted.

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