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  • February 1994 (Revised September 1995)
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Leland O'Brien Rubinstein Associates, Inc.: Portfolio Insurance

By: Peter Tufano
  • Format:Print
  • | Pages:23
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Abstract

Leland O'Brien Rubinstein Associates, a small financial advisory firm founded in 1980, has created a successful business by selling a product commonly known as portfolio insurance. Portfolio insurance is a trading strategy that institutional investors use to establish a floor on the value of their equity portfolios, by essentially manufacturing a put option on a broad market index. The crash of 1987 highlights the flaws of this manufacturing process and forces principals of LOR to consider what to do next.

Keywords

Investment Portfolio; Insurance; Product; Financial Services Industry

Citation

Tufano, Peter, and Barbara Kyrillos. "Leland O'Brien Rubinstein Associates, Inc.: Portfolio Insurance." Harvard Business School Case 294-061, February 1994. (Revised September 1995.)
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Peter Tufano

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