### Comment:
If you look into how they are valuated, this is nearly true.  Take a look at some of the leveraged ETFs out there, they get repriced daily and are essentially designed to lose value.  They can gain value, but it's usually a 2 or 3 sigma event when they do.  
  
 Of course the underlying truth to all this is that the market is chaotic and a 6 sigma event could occur at anytime and fuck just everyone and their mom.  Maybe today...

### REPLY:
Hedging against a 6 sigma move is not expensive.

### END.