LOS ANGELES, April 07, Apr 07, 2020 (GLOBE NEWSWIRE via COMTEX) -- Lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are investigating claims by investors who suffered losses from Collateral Yield Enhancement Strategy (CYES) Investments that were issued by Harvest Volatility Management, but were sold by brokers from Morgan Stanley (MS), JP Morgan (JPM), Fidelity, Charles Schwab, and other broker-dealers. Now, with all the market turbulence causing investments to drop in the wake of the novel coronavirus (COVID-19), CYES investors are experiencing even more losses.
Unfortunately for many CYES investors, even prior to COVID-19 and the resulting market drops, they were already grappling with losses from the huge market plunge of December 2018 that was considered the worst turbulence seen in years. Now, many investors are finding that those losses from CYES were just the beginning.
Yield Enhancement Strategy Investments (YES) are marketed as low risk ways to obtain secure returns for conservative portfolios and are sold by brokerage firms, including UBS, Credit Suisse (CS), Bank of America's Merrill Lynch (BAC), and others. With YES, small returns are supposed to come through the selling and buying of two index options spreads. This is true in calmer market waters, but that is most certainly not the case right now. CYES investments are even riskier than YES investments because they use four options on the same index that, along with its iron condor approach, can place investors in a position of risking their entire capital when the markets are rough.
If you or a loved one are a CYES or YES investor or have a loved one who suffered losses related to these products, contact SSEK Law Firm today for a free, no obligation, confidential evaluation of your investments and legal options.
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