As first-year analysts know all too well, you'd be hard pressed to find something that bankers hate more than a typo on a deal sheet. That's why we did a serious double take when we saw the typo on the first line describing one of the two new MacroShares housing ETFs. On the description page for UMM, MacroShares mislabeled the ETF as the "down" ETF instead of the "up" one. For an ETF where money is on the line, you can rest assured that someone at MacroShares will hit the fan when this typo gets discovered. Everyone makes typing mistakes -- us included -- but it's hard to believe that the one below slipped through the cracks.
(That was quick! Within an hour of our post, the typo was corrected.)