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The ten best places in America for second homes are presented. These include Maui, Kiawah Island in South Carolina, The Hamptons, and Park City, Utah.

Chicago Board Options Exchange (CBOE) CEO William J. Brodsky, Robert Merton, economists Myron Scholes and Robert Merton, and veteran traders Jeffrey Yass and Blair Hull share their thoughts on the most important factor in the growth of the options business since the CBOE started in 1973. The panelists discuss the future and the trends in the business as well as their strategies for investing if they had $1 million.

Pimco Executive VP for asset allocation, Mark Taborsky, says that they think conceptualizing macro outcomes in terms of risk factors is easier than to create expectations of returns across asset classes. Taborsky says that the 2008 meltdown taught people the importance of risk and liquidity management.

Options will attract more attention from investors seeking to maximize profits from stocks. The old method of buy-and-hold investing will eventually be replaced as investors focus more on the life cycles of stocks, as well as hedging and profit taking.

Chicago Board of Trade chairman and chief executive Bill Brodsky is presiding over the firm's initial public offering. Brodsky managed to turn around the company and revamp its business model, regaining market share and saving his job.

The U.S. Securities and Exchange Commission is trying to determine the cause of the stock market plunge. The lack of transparency in the stock market raises the possibility of extreme volatility which could benefit the equity-options industry.

Investors are looking to secure their capital gains through more risk-averse trading strategies. These strategies include selling stock and replacing them with call options.

The value of stock warrants issued by financial institutions to the US government under the Troubled Asset Relief Program remains in question. A study by Credit Suisse on the value of these stock warrants underscores the difficulty in assigning value to them and selling them to investors.

Investors can take advantage of the prevailing 'cash is king' mentality in the financial markets by purchasing 20-delta calls on riskier stocks. The financial system could be stressed if investors decide to reinvest their huge cash holdings.

Shares of Lehman Brothers are expected to rise after company earnings for the third quarter of 2007 beat analyst expectations. The company's moves to diversify its operations make it less vulnerable to economic shocks.

The growth in the market size, revenue and stock prices of Lehman Brothers Holdings Inc. since 2002 is discussed.