Investing in Long Volatility

I published a paper earlier this year. I looked at a hundred years of testing in various portfolio strategies and determined that a portfolio that had what i called the dragon portfolio, has substantial positive exposure to left and right wing tail volatility. Hooding a long ball in tha portfolio at a clip, at a shocking percentage of about 20 %, is a major constituent of that portfolio. That portfolio has beaten almost every other portfolio that you can imagine, from 60 forty stock bonds to risk parody portfolios. And once again, this is not an opinion. People underestimate defence. They underestimate estimate a ano correlation or anti correlation, and they underestimate value of liquidity.