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Evolve launches active gold miners ETF

Evolve launches active gold miners ETF



Evolve Funds has introduced a new ETF in Canada’s NEO Exchange providing actively managed exposure to global gold mining stocks.

Evolve launches active gold miners ETF

The fund provides actively managed exposure to the global gold mining sector.

The Evolve Gold Miners Fund (GLC CN) comes with a management fee of 0.70%.

It has been created through the conversion of the Gold Miners Split Corp, a closed-end fund, into ETF shares, and the adoption of a new name and strategy.

The eligible investment universe includes all companies that comprise the S&P/TSX Global Gold Index, the NYSE Arca Gold Miners Index, and the MVIS Global Junior Gold Miners Index.

At least 90% of total assets of the fund will be invested in companies that have a market capitalization of no less than $350 million, and at least 60% will be invested in larger-cap gold miners, companies that have market capitalizations greater than $1 billion.

The fund’s managers, led by Elliot Johnson, Chief Investment Officer, Evolve Funds Group, will select securities based on valuation metrics, stock liquidity, share price volatility, dividend yield and dividend growth, options market conditions, and relevant sector news.

Leverage may be used, up to a maximum of 50% of the portfolio value. Exposure to any single stock will be limited to 8%, and the fund will generally seek to hedge currency risk relative to the Canadian dollar.

The fund’s managers intend to engage in discretionary covered call option strategies on 15% of the portfolio in normal market conditions in a bid to enhance income and reduce portfolio volatility. The level of covered call option writing may vary based on market volatility. The fund targets a yield of 7.0%. Distributions are sent to investors on a quarterly basis.

The fund currently has 23 holdings with major positions including Newmont (6.27%), Barrick Gold (5.88%), Franco-Nevada (5.80%), Wheaton Precious Metals (5.71%), and Agnico Eagle Mines (5.31%). The major country contributors are Canadian miners with 52.06%, US miners with 12.78%, and South African miners with 10.16%.

Elliot Johnson, lead fund manager and Chief Investment Officer at Evolve ETFs, commented, “As gold prices strengthen on the back of the global pandemic, we believe there remains a long-term investment opportunity in the gold mining sector. Given the uncertainty in the post-pandemic world, now might be the time for investors to consider gold mining equities. We launched the Evolve Gold Miners Fund to provide investors with access to an undervalued growth sector that historically moves in the opposite direction to the broad equity markets.”

Evolve also offers an ETF targeting the broader global mining sector. The Evolve Global Materials & Mining Enhanced Yield Index ETF (BASE CN), which launched in June 2019, tracks the Solactive Materials & Mining Index while using an active overlay to enhance income through covered calls on up to a third of the portfolio. The fund houses $20 million in AUM and comes with a management expense ratio (MER) of 0.75%.

The post Evolve launches active gold miners ETF first appeared on ETF Strategy.

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Uniting for Progress – the Fifth Annual SYNGAP1 Conference hosted by SynGAP Research Fund (SRF) will take place November 30th in Orlando, Florida. #SyngapConf

Orlando, FL – 19 October 2023 – The Syngap Research Fund (SRF) will host Uniting for Progress — its fifth annual conference on SYNGAP1 research…



Orlando, FL – 19 October 2023 – The Syngap Research Fund (SRF) will host Uniting for Progress — its fifth annual conference on SYNGAP1 research and clinical care on Thursday, November 30 at the Embassy Suites in Orlando, Florida.  Clinicians, researchers, industry professionals and SYNGAP1 families are invited to register at

Credit: SRF

Orlando, FL – 19 October 2023 – The Syngap Research Fund (SRF) will host Uniting for Progress — its fifth annual conference on SYNGAP1 research and clinical care on Thursday, November 30 at the Embassy Suites in Orlando, Florida.  Clinicians, researchers, industry professionals and SYNGAP1 families are invited to register at

“Uniting for Progress will showcase how SRF and the SYNGAP1 community are ready to partner with industry to deliver therapies for patients with this horrible disease.  It is an important opportunity for us to collaboratively improve the lives of people with SYNGAP1” said Mike Graglia, Managing Director of SRF. 

“The SRF annual scientific conference is an excellent opportunity to learn about the latest advances in SYNGAP1 research and to collaborate with other researchers on new projects. I am excited to be a part of this event and to help make a difference in the lives of people with SYNGAP1 Related Disorder,” said Dr. Kim Wiltrout, MD, of Boston Children’s Hospital.

The agenda will feature six sections:

  • New Findings about SYNGAP1
  • Drug Repurposing for SYNGAP1
  • Understanding SYNGAP1 at a Molecular Level – VUS & Missense Variants
  • Updates on Public Preclinical Pipelines
  • Clinical Trial Readiness – Natural History
  • Clinical Trial Readiness – Quantitative Measures

The scientific conference on Thursday will be followed by a family meeting on Friday, December 1, 2023 at the same location. Families are encouraged to attend both days.

“The conference is a pivotal annual event for the SYNGAP1 community. It is an invaluable opportunity to learn about the latest SYNGAP1 research, network with professionals who understand our children, bond with other families, and advocate for our loved ones. Coming together once a year fuels my passion and energy to be part of the SRF team building community and seeking precision therapies for our children,” said Suzanne Jones, parent of a child with SYNGAP1 & SRF Board Chair

We are grateful to our sponsors Stoke Therapeutics, Acadia Pharmaceuticals, Simons Searchlight, Tevard Biosciences, ciitizen/Invitae, Longboard Pharmaceuticals, and Rarebase for their support of this event.  

“Every year this event continues to grow – more families, more researchers, more clinicians – and we couldn’t do it without our sponsors,” said Peter Halliburton, Director of Development for SRF.

Agenda with topics and speakers

  • New Findings
    • New insights in the DEEs, including SYNGAP1 by Prof. Scheffer, AO, MBBS, PhD, University of Melbourne
    • Gene delivery by milk exosomes restores SYNGAP1 expression in mouse brains by Prof. Zempleni, PhD, University of Nebraska
    • SYNGAP1 beyond the Synapse by Dr. Willsey, PhD, University of California, San Francisco
  • Drug Repurposing
    • Moderation by Dr. Xin Tang, PhD, of Boston Children’s Hospital
    • Drug Repurposing Screen in Drosophila by Dr. Chow, PhD, University of Utah
    • Drug Repurposing Screen in Patient Models by Dr. Moxham, PhD, Rarebase, PBC
    • Lessons Learned from Phenylbutyrate Repurposing by Dr. Grinspan, MD, MS, Weill Cornell Medicine
  • Understanding SYNGAP1 at a Molecular Level
    • SynGAP missense: potential druggability and how might we get there by Dr. Courtney, PhD, Turku Bioscience Centre, Finland
    • Modeling the structural effects of SYNGAP1 missense mutations using molecular dynamics simulations by Dr. Postila, PhD, Turku Bioscience Centre, Finland
    • Integrated approaches to resolving SYNGAP1 missense variants of uncertain significance by Dr. Carville, PhD, Northwestern University
    • iPSC models of SYNGAP1 dysfunction by Dr. Coba, PhD, University of Southern California
    • Non-synaptic function of the ASD Associated Gene SYNGAP1 in Cortical Neurogenesis by Dr. Birtele, PhD, University of Southern California
  • Preclinical Pipeline
    • Why SYNGAP1 is an attractive target for Industry by Dr. Mingorance, PhD, Dracaena Consulting
    • TANGO Platform by Dr. Aznarez, PhD, Stoke Therapeutics
    • Praxis ASO Platform by Praxis Precisions Medicine
    • Suppressor tRNAs for the treatment of DEEs by Daniel Fisher, MBA, Tevard Biosciences
  • Clinical Trial Readiness – Natural History
    • Moderation by Dr. Helbig, MD, Children’s Hospital of Philadelphia 
    • A prospective natural history study in SYNGAP1 – first insights from ENDD by Dr. Jillian McKee, MD, Children’s Hospital of Philadelphia
    • Understanding the natural history of SYNGAP1 through data integration by Julie Xian, Children’s Hospital of Philadelphia
    • Outlining the clinical landscape of SYNGAP1 through a computational phenotype approach using 5586 phenotypic annotations in 197 individuals by Dr. Kessler, MD, Children’s Hospital of Philadelphia
    • SYNGAP1 Genotype and Phenotype Analysis by Dr. Kim Wiltrout, MD, Boston Children’s Hospital 
    • Meaningful Clinical Outcomes and Development of a Disease Concept Model by Katharine Cunnane, Weill Cornell Medicine
  • Clinical Trial Readiness – Quantitative Measures
    • Using EEG to understand “how the brain works” in SYNGAP1 by Dr. Levin, MD, Boston Children’s Hospital
    • Deep Learning EEG Biomarkers in SYNGAP1 Rodent Models and Patients by Dr. Gonzalez-Sulser, PhD, University of Edinburgh
    • Validating the ORCA for SYNGAP1 & other DEEs by Dr. Zigler, PhD, Duke University
    • Recent Neurobehavioral Findings in SYNGAP1 by Dr. Frazier, PhD, John Carroll University

About SYNGAP1-related intellectual disability (SRID)

SYNGAP1-related intellectual disability (ICD-10 F78.A1) is a rare genetic disorder caused by variants on the SYNGAP1 gene that reduce SynGAP protein levels. SRF has identified almost over 1,300 patients to date, the number grows weekly.  This protein acts as a regulator in the synapses (where neurons communicate with each other). When SynGAP protein levels are too low, we see an increase in excitability in the synapses making it difficult for neurons to communicate effectively. This leads to many neurological issues seen in SynGAP patients.

Symptoms of SYNGAP1 include: intellectual disability; epilepsy; hypotonia (low muscle tone); gross and fine motor skill delays; autism spectrum disorder; gastro-intestinal disorders; sleep and behavior disorders and visual abnormalities. 

About the SynGAP Research Fund (SRF)

The mission of the SynGAP Research Fund (SRF) is to improve the quality of life for SYNGAP1 patients through the research and development of treatments, therapies and support systems. 

SRF was founded in the US in 2018 as a 501(c)(3) US public charity, and families created sister organizations for SRF in the UK in 2020, in Europe (Netherlands) in 2022, and in Latin America (Colombia) in 2023. 

Completely parent-led, SRF is the largest non-government funder of SynGAP research having committed over $4 million in grants to date. The founders cover all operational costs, ensuring donations fund science. SRF’s grant program awards one or two-year grants to investigators, physician residents, and clinicians who are interested in studying SYNGAP1. SRF grants are intended to help researchers explore novel ideas and answer open questions related to the clinical aspects of and therapies for SRID. 

SRF is a member of the COMBINEDbrain, Global Genes Foundation Alliance, the Everylife Foundation Community Congress, Personalized Medicine Coalition, Rare Epilepsy Network, and the Epilepsy Leadership Council.

For more on SRF, visit: or follow @cureSYNGAP1 on X, LinkedIn, YouTube, Instagram, Facebook or TikTok.

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Sustainable cosmetics: harnessing cyanobacteria for natural active ingredients

The cosmetics industry is turning towards natural alternatives to chemical agents used in products to pave way towards a more sustainable future. Researchers…



The cosmetics industry is turning towards natural alternatives to chemical agents used in products to pave way towards a more sustainable future. Researchers are searching for nature-derived active ingredients for skincare products through extensive bioprospecting research. In this regard, cyanobacteria, with their remarkable metabolic capacity, are a promising source of such agents. Having existed on Earth for nearly 3.5 billion years, these photosynthetic organisms have adapted to various environmental conditions, including extreme environments. Aphanothece sacrum, a cyanobacterium endemic to Japan and cultivated as a food source on farms in Fukuoka Prefecture, is already being studied for the capacity to produce active ingredients like sacran, a water retaining polysaccharide.

Credit: Hakuto Kageyama

The cosmetics industry is turning towards natural alternatives to chemical agents used in products to pave way towards a more sustainable future. Researchers are searching for nature-derived active ingredients for skincare products through extensive bioprospecting research. In this regard, cyanobacteria, with their remarkable metabolic capacity, are a promising source of such agents. Having existed on Earth for nearly 3.5 billion years, these photosynthetic organisms have adapted to various environmental conditions, including extreme environments. Aphanothece sacrum, a cyanobacterium endemic to Japan and cultivated as a food source on farms in Fukuoka Prefecture, is already being studied for the capacity to produce active ingredients like sacran, a water retaining polysaccharide.


Now, a team of researchers, led by Professor Hakuto Kageyama from Meijo University, Japan, have discovered two novel compounds—saclipin A and saclipin B—produced by in A. sacrum. The researchers were originally evaluating environmental stress tolerance mechanisms in cyanobacteria and exploring whether A. sacrum contained mycosporine-like amino acids (MAAs), which can absorb UV radiation and possess antioxidative and antiglycative properties, when they chanced upon the discovery of the two types of saclipins. When asked about his motivations for pursuing the research, Prof. Kageyama explains, “Presently, most UV-absorbing ingredients are chemically synthesized. They pose a significant environmental risk and can inhibit the growth of organisms like seaweed and corals. Natural ingredients will go a long way in improving the environmental credentials of cosmetics and pharmaceuticals as industries pursue ways to be more environmentally conscious.” The team’s findings were published in the Journal of Agricultural and Food Chemistry on 10.1021/acs.jafc.3c05152.


To study the cyanobacterial metabolites, the team needed to isolate them from A. sacrum cells. First, the researchers prepared an organic extract from dried A. sacrum and examined it for UV-absorbing compounds. Next, they purified target metabolites with absorption spectra close to 320 nm, a wavelength falling within the bandwidth for UV radiation. Finally, mass spectroscopy and nuclear magnetic resonance were used to determine the chemical structure of the purified compounds. Touching on the significant findings from the study, Prof. Kageyama says, “Structurally, the saclipins were completely different from known UV-absorbing compounds derived from cyanobacteria, such as MAAs and scytonemin. They absorbed UV radiation, scavenged damaging oxygen free radicals, and inhibited the glycation of collagen and elastin. Taken together, these characteristics show they have the potential to slow down aging.” By exposing A. sacrum to various environmental stressors to understand the growth conditions that induced its synthesis, the team determined that saclipin production was enhanced under drought stress. Additionally, they found a unique property of the saclipins—photoisomerization. Saclipin A could be converted to saclipin B under fluorescent light irradiation. This property is advantageous because it allows for quick adjustment of saclipin ratios in product formulations, depending on the intended use.


Prof. Kageyama is keen to conduct further research on the saclipins. “A. sacrum is cultivated as a food source in Japan. If we can understand how to produce the saclipins at scale, there is the potential to develop them as an edible anti-aging supplement,” he says. He is hopeful that further research will draw attention towards the conservation of this freshwater cyanobacterium. “Such findings could serve as the catalyst for broader conservation efforts. Sustainable aquaculture production could go a long way to securing A. sacrum’s future,” he concludes.

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Revisiting the 1987 Stock Market and Fishhoks

On September 7, 2023, I wrote about a "fishhook" structure formed in the Price Oscillator of the S&P 500. A fishhook occurs when a Price Oscillator…



On September 7, 2023, I wrote about a "fishhook" structure formed in the Price Oscillator of the S&P 500. A fishhook occurs when a Price Oscillator or Summation Index plot makes a temporary reversal attempt and restarts the prior trend. A fishhook represents a failure of the forces of reversal, and it opens the door to the prior trend, resuming itself with renewed vigor.

The granddaddy was the fishhook structure formed in late September 1987, as featured in the chart above.

When it rolled over again, the famous crash of October 19, 1987 followed. Fishhooks don't always lead to such big calamities, but the potential energy is there, which is why I get excited about them.

As for the one I shared on September 7, here is how that one turned out (see chart below).

We didn't see a crash after this August 2023 fishhook, but it did have the power to produce a lower low for the S&P 500. And now the Price Oscillator has turned back up from a fairly low level, signaling that the bulls have the ball and the potential to run with it.

Turning back to that 1987 episode, there is much more to that story that many younger investors didn't live through, so they do not remember. I got permission to share the following recollections from Art Cashin, who is the Director of Floor Trading at UBS and a frequent guest on CNBC:

"On this day (+1) in 1987 (that's 36 years ago if you are burdened with a graduate degree), the NYSE had one of its most dramatic trading days in its 231-year history. It suffered its largest single day percentage loss (22%) and its largest one-day point loss up until that day (508 points). No one who was on the floor that day will ever forget it. While it was an unforgettable single day, there were months of events that went into its making.

The first two-thirds of 1987 were nothing other than spectacular on Wall Street. From New Year to shortly before Labor Day, the Dow rallied a rather stunning 43%. Fear seemed to disappear. Junior traders laughed at their cautious elders and told each other to "buy strength" rather than sell it, as each rally leg was soon followed by another.

One thing that also helped banish fear was a new process called "portfolio insurance". It involved use of the newly expanded S&P futures. Somewhat counter-intuitively, it involved selling when prices turned down. The rally topped out about August 25 with the Dow hitting 2722. Interest rates had begun creeping up amid concerns of early signs of inflation. Treasury Secretary Baker began a rather open debate with the Germans on the relationship of the dollar and the Dmark. Soon the weakness in the market was turning into a visible correction. By the middle of October, the Dow fell to break an uptrend line that had protected it for over 1000 points. The flurry of takeovers and leveraged buyouts that had flourished all year began to dry up.

On Wednesday, October 14, there were widely discussed rumors of a new punitive tax on takeover profits. Selling turned a bit ugly and the Dow fell 96 points by the close (a record point drop at the time). The next day there was no bounce and the Dow fell another 58 points.

Friday, the 16th was an option expiration day. There was a very bad storm in London and that market closed, which forced more people to seek liquidity in New York. Stocks faced a steady wave of selling. As the close neared, rumors spread that the First Lady, Nancy Reagan, the President's right hand, might be admitted to the hospital with cancer. The selling intensified and the Dow closed down 108 points, on the low and a new record point drop.

The weekend was a rumormonger's delight. Nancy was admitted to the hospital. Japan was considering a confiscatory 96% tax on real estate speculation. Germany proposed a change in taxes on some interest rates, which would make U.S. Treasuries unattractive to Germans. Rep. Gephardt was talking about a trade bill that would freeze imports. Treasury Secretary Baker went on a Sunday talk show and openly challenged the Germans on currency. There were even rumors of U.S. planes engaging Iran.

At the time, I was running the floor for PaineWebber. Monday morning, I got up well before dawn and saw that Hong Kong was down about 10% and other markets were looking equally weak before their openings. I headed for the NYSE to check on our systems and staffing. I reached out asking the team to get in early. Once I had checked out the systems and verified staffing, I went with a partner up to the Luncheon Club for a quick coffee. With markets around the globe all down about 10%, I didn't know if we'd get to a coffee-dash or anything else after we opened.

We sat about two tables away from a table where NYSE Chairman John Phelan sat with several directors and some staff. Every ten minutes or so, someone would rush up to Phelan and slip him a note or whisper in his ear. It was evident that things were deteriorating. As I headed for the floor, I went past Phelan's table, put my right arm across my chest and said, "Morituri Te Salutamus Esse." It was the gladiator's salute to the Emperor: "We, who are about to die, salute you." Phelan nodded without a smile.

The opening was not an outright disaster, but that was primarily due to the fact that many stocks did not open immediately. They were delayed, with indications to warn investors of the prices that they might open at (with hopes of inviting bargain hunters). Meanwhile, in Chicago, where you could short without a plus-tick, prices headed for freefall. Soon prices were lower in Chicago than in New York. That brought even more selling pressure to New York.

Shortly after the opening, as it became clear that this would be a very special and very dangerous day, several NYSE directors met in Chairman Phelan's office. They checked around the street to gauge any new trends in the selling pressure. They were also on the phone with the White House via former Senator Howard Baker, who was White House Chief of Staff.

Meanwhile, back on the floor, the situation felt more unreal. Orders flowed in faster and faster, and the tape ran later and later. (The tape was linear, and the human eye can only recognize a certain number of symbols per second, 900 I think. To run faster than that would make the tape an unreadable blur. Traders can trade faster than the maximum reading speed, so the tape ran late.) One broker said it was like a bizarre dream sequence-nothing seemed real.

In late morning there were signs that the markets might begin to stabilize. Then the newly appointed Chairman of the SEC, David Ruder, was intercepted by reporters leaving a meeting at the Mayflower Hotel in Washington. Whatever they asked and whatever he said, it somehow was reported that the markets might have to be halted. Later, he would swear it was a typo, but you can't un-ring a bell. The fear of a halt sent buyers scurrying away. Stocks went into virtual freefall. The interaction with the futures saw prices melt away. The Dow closed down 508 points. One specialist, who made too good a market, ran out of funds and the firm was sold to Merrill Lynch that very night. At watering hole after watering hole, traders and specialists reported again and again how strained their resources were. Wall Street could not survive another day like this. Luckily, innkeepers, like Harry let them put the drinks on a tab.

What is often lost in the retelling is that the next day, Tuesday, was far more dangerous. It was the day that the wheels almost did come off the locomotive. The Dow opened up about 200 points Tuesday to a round of cheers on the floor. But, stocks quickly turned lower. The 200-point gain was erased, and the Dow went negative, accompanied by an audible gasp on the floor. Soon it was nearing -100 and trading was being halted in several of the Blue Chips that make up the Dow.

Then we learned that several key banks were shutting down the credit lines of market makers and NYSE specialists. The banks feared exposure to an apparently collapsing stock market.

NYSE Chairman Phelan reached out to the recently appointed head of the Fed, Alan Greenspan. Unfortunately, Greenspan was on a plane. Desperate, Phelan called the President of the New York Fed, Gerry Corrigan. He sensed the danger immediately and began calling the banks to reopen the credit lines. They were reluctant but Corrigan ultimately cajoled them. The credit lines were reopened, and the halted stocks were reopened. Best of all, the market started to rally and closed higher on the day. It was an incredible time, and the financial system was within hours (and a few phone calls) of an absolute collapse. It was a time I'll never forget.

After the crash, regulators added varying levels of circuit breakers and assured us they would prevent any repeat of the crash. Cynical traders likened the circuit breakers to lifeboats painted on the side of a ship. They were comforting and reassuring to look at but thoroughly useless in a real crisis. They were useless in the "flash crash" in May of 2010 and in the negative TARP vote selloff, and scores of other occasions. There is nothing more powerful than a free market that has changed its mind.

There are a couple of other points worth noting for history's sake. The first is that Fed Chairman Alan Greenspan had just been appointed on August 11, 1987, two weeks before the final price top that year. And on Sep. 4, 1987, he and the FOMC raised the Fed's Discount rate from 5.5% to 6.0% as a way for the new dog in town to mark his territory. It was the first such hike since 1984 and did not go over well.

It is worth noting that because of the high volume of trading on Oct. 19, 1987, the Consolidated Tape System could not handle all of the price quotes, so the tape ran as much as 90 minutes behind real-time. So brokerage firms and investors around the country had no real idea what was happening on the trading floor unless they could get through to their representatives on the phone, and you can imagine how poorly that worked. Many traders sent in blind orders, with no idea at what price they would be executed, just because they were scared and wanted out, thus exacerbating the severity of the selloff.

I was not a market participant in 1987. I was an Army captain then and a helicopter pilot, just freshly transferred to an installation near Frankfurt in what was then called "West" Germany. I learned about the crash while driving home on Autobahn 66 while listening to the news on Armed Forces Radio.

My father, Sherman McClellan, was not yet in the newsletter business in 1987 (we started that together in 1995 after I got out of the Army). But Sherman did have some institutional clients he was advising at the time; he advised them in August 1987 that it was an "important top." It was a lower Summation Index top and a third top at that.

After the crash, the great worry among investors was that the October 1987 crash was just like the October 1929 crash and it would lead us into a new Great Depression again. But by early 1988, it was clear to Sherman that something different was going on.

The ability of the Summation Index to recover from the crash lows and push up to a nice high level told Sherman that it was not going to be a repeat of the 1929 scenario (and a continuation to the 1932 low), and he told that to his clients at the time. He also went on Gene Morgan's Charting The Market TV show on KWHY-TV, channel 22 in Los Angeles to tell Gene's viewers that it was not the start of another Great Depression and that the October and December 1987 lows should be firm. KWHY was the original "Business Channel" and it innovated a lot of the business news reporting features that are common today, including the scrolling ticker on the bottom of the TV screen.

Unlike in 1929, when the Fed remained tight and Congress raised taxes, the Fed in 1987 threw money at the problem and told banks to keep lending and it worked. Greenspan was able to pull the market back up out of the crash that his new-in-office rate hike had helped to create, and rather than being criticized for having run the markets and the economy into a ditch, he was lauded for his expertise in pulling us all out of the ditch. As a result, Greenspan was rewarded with additional terms as Fed Chairman, serving until January 2006.

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