Greg McMurran  -  Analytic Investors

An Expert Looks at His Options.
Greg McMurran
Greg McMurran
Chief Investment Officer
Analytic Investors
Los Angeles, CA
[$1.5 billion in assets]

Greg McMurran is no stranger to options. His Firm, Analytic Investors, is a pioneer in U.S. and global tactical asset allocation, quantitive equity and volatiltiy arbitrage strategies. "We manage more than $1.5 billion in assets for mutual funds, pension funds, trust companies, foundations, endowments and individual investors," he says. "Our performance results comprise the longest continuous published track record for option-enhanced strategies within the investment management community." McMurran emphasizes that his strategies are driven entirely by objective, quantitative models. There's no allowance for subjective biases in the decision making process.

"We use options to control risk and improve risk-adjusted returns. The new options on the Dow Jones Industrial Averagesm will help us manage exposure in our large-cap equity portfolios by enabling us to purchase protective puts on the most visible index there is. To the average investor, the equity market is The Dowsm.

Protection for Downside Risk
"Options are an extremely efficient tool," says McMurran. "Since their inception, we've used hundreds of listed option products for risk management purposes." When institutional clients want to protect against large amounts of equity risk, there's no tool like options. They enable you to target return expectations by effectively managing downside risk.

Opening New Doors of Opportunity
With Options on the Dow Jones Industrial Averagesm, traded exclusively at The Chicago Board Options Exchange (CBOE), you can put to work your knowledge of the most reported, analyzed and forecasted index in the world. Plus, The CBOE has a complete line of other major index options. McMurran states, "Among The CBOE products we use are options on the S&P 500® (SPX), S&P 100® (OEX), Russell 2000® (RUT), Nasdaq 100® (NDX) and on individual equities." In fact, 92% of all index options trades on U.S. exchanges take place at The CBOE, the world's largest options market.

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