The VelocityShares Daily Inverse VIX Short-Term exchange-traded note, ticker XIV, which lets investors bet on continued low volatility, fell as much as 4.5 percent Thursday, after closing at a record high the day before.
Market makers are stepping away from providing early funding, forcing issuers to get creative in seeking seed capital.
Here is a survey of the darkening investment landscape painted by banks and asset managers.
Once regarded as novices, family offices are looking beyond stocks and bonds to pursue direct investments in companies and real estate. The most sophisticated are turning into investing giants.