We need not go into the details of various methods whereby the investor paid more than the indicated cost of acquisition or the degree to which trustees provided for exculpation from all liability except for acts of willful default or gross negligence. For our purposes, it is necessary only to consider briefly the fundamental defect in the very concept of the fixed trust. As a rule, the underlying securities could be eliminated or altered only in the event of combination, consolidation, reorganization, or sale of substantially all the property of an underlying company. Others provided for a change if a dividend were reduced or eliminated. A study published in 1937, preceding the report of the Securities and Exchange Commission, summarized the reasons for the decline of the so-called fixed trust or "unit-type trust." The author observed that the word fixed was a misnomer from the start, since almost all the companies provided for portfolio elimination under certain conditions; the name, however, had a sales value because of the unpopularity of management companies.
For Pro Secrets and Strategies on all Aspects of Best Option Trading, visit
Currency Option Trading