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Big Bucks and IWM Chicanery

The first thing to note on the Rydex deal is that it appears to have been considerablly less than the upper end of the rumors that had been floating around.  I'm hearing closer to $500 million than a billion.  What's your operation worth?

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Rydex Sweepstakes Over

As it turns out, the winner of the Rydex sweepstakes is neither E*Trade nor Invesco: A Kansas-based company called Security Benefit has purchased the Maryland-based investment management company for an as-yet-undisclosed sum.

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And a Cloud of Dust

That's a great little post, Matt. Sixteen basis points - and you're not skimping on the international and have thrown in commodities, which to my mind were prohibitively expensive to invest in for me 3 or 4 years ago. It's the "cloud of dust" part of "16 basis points and a cloud of dust" that does nag at me.

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Sixteen Basis Points

I couldn’t agree more on the overall state of the industry, Jim. I can put together a much better portfolio today than I could five years ago, with more asset class diversification and lower costs.

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Life In the Index Intelligentsia

Matt - you are right on the money - as always. Just kidding. Actually, though, you are right about the index industry's tendency to passionately debate topics that no one else cares about.

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Semantics

I spent part of last week in New York attending the Journal of Indexes editorial board meeting and the S&P 500 50th anniversary birthday bash. Both were great events, and gave me a lot of insight into what index developers are thinking about these days.

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ChaCHING

The Russell deal with the ICE can be spun a million ways and has all kinds of implications, but at it’s core, it is about da money:  $50 million in cash upfront ... 7 year deal…possible backend bringing the total to over $100 million.  Here’s the SEC filing.

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ICE Lands Russell Contract

The Intercontinental Exchange (ICE) stuck its thumb in the eye of the Chicago Mercantile Exchange (CME) this morning, announcing a deal for the exclusive rights to trade futures and options on futures on the full suite of Russell indexes.