And the returns in the ProShares Ultra Nasdaq Biotechnology Fund
(BIB) – a double-long exchange-traded fund – supports Steve's statement.
(Remember, the returns for BIB will be higher than a simple biotech
index due to leverage. But the returns for the normal index are still
incredible.)
BIB hit a low of $8.48 per share on August 8, 2011. It has soared
to more than $160 today – a return of nearly 20 times in less than four
years. (more)
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