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Old 09-22-2005, 05:22 PM  
AquariusPhotos
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Join Date: Sep 2003
Location: Troy, Michigan
Posts: 168
They are groups of stocks (or bonds) that trade like stocks. They are a way to play an industry or country for example. They are no more solid than the stocks that make them up. Don't invest in anything you don't understand. They can trade above or below the underlying assets and carry a small management fee)
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