"We had one client come to us who had a huge pension plan," says Rubinstein. "We wanted to tell that client that was too much money for us to handle. We were just too worried about the impact that the trading would have on the markets." If LOR refused the client's business, however, "he'd go somewhere else" to one of the growing number of other firms also offering portfolio insurance (Rubinstein interview).

Donald MacKenzie, An Engine, Not a Camera, loc. 812