"The forces that destroyed SA were also what generated its 4×+ return"...yes, that is what levrage means? And it goes both ways. The interesting part what this

"The forces that destroyed SA were also what generated its 4×+ return"...yes, that is what levrage means? And it goes both ways. The interesting part what this article states: SA was essentialy a thematic ETF without any hedging to buffer downside, and got margin called.