"It's impossible to invest in the VIX directly, because it's a synthetic metric, not an actual basket of assets...For investors who want to bet on volatility, there are futures and options based on the VIX that can be traded..."
Some Investors, Looking for Safety, Bet on Fear
by Jia Lynn Yang
http://www.washingtonpost.com/business/economy/with-vix-or-market-volatility-index-investors-looking-for-safety-bet-on-fear/2011/04/01/AFfEE1kC_story.html
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