RecentworksofSatch Hoyt have centered on cricketandfootball, thoughhe also concentrated on boxing, conjuring folk heroeslike Muhammad Ali, Frank Bruno, andJackJohnson.
The appeal is to investors who expect the market to go up, but only a little, explains Satch Chada, managing director in charge of retail structured products at Merrill Lynch: "In a 5% interest rate market you're able to get a 14% return, " he says.