I wanted to share with you some of my thoughts about the current state of market risk as this new year is now sufficiently underway. A number of years ago, I created a list that I call “25 Sayings on Vol and Risk”. In the spirt of 7 minute abs and 12 holiday recipes, I think lists are an easy way to connect concepts. Twenty five is a lot to get through, so we are going to simply divide them into 5, creating a series of half hour episodes. I do hope I can keep your attention and, again, make a positive contribution to how you think about markets over 30 minutes.
Here are our first five:
- “Big Moves Matter Most”
- “Theta is the Rent on Gamma, and the Rent is Often Too Damn High”
- “Hedge When You Can, Not When You Have To”
- “Stock Returns, Like Politics, Are Not Normal”
- “Financial Market Insurance is Not Like Hurricane Insurance”
Hope you Enjoy!
