BOSTON ( TheStreet) -- Oliver Pursche, manager of the $20 million GMG Defensive Beta Fund ( MPDAX), said one of this largest clients phoned him late Thursday concerned about the sharp selloff in equities. Like most individual investors who were lost and blindsided by the bleeding, Pursche's client was looking for direction."He was very nervous. He wasn't quite freaking out, but he said 'Oliver, this is one of the times I need you to tell me everything is OK,'" Pursche said by phone Friday from his office in Suffern, N.Y.
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