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Is There a Consensus View on Volatility Trading?
I think there was quite a lot of excitement about the possibility of a near term blow up, as we saw equity prices going parabolic in january. I think all of these example that you highlighted, and i think most of the other examples one could come up with, were highly leveraged sellers of tail risk. You know what gives is it just sort of the nature an approach that has very non linear pay offs, that that sort of blow ups are inevitable.