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3. Why Mutiny? Part Three: Why Long Volatility, and Why Now?

Mutiny Investing Podcast

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Seeing Like a State

volatility tends to cluster. Benoit Mandelbrot talked about it that you look at, not just financial markets, but any sort of complex system. You have these relatively low periods of volatility, followed by these periods of high volatility. Vladimir Lenin's quote that I always like is, there are decades in which nothing happens in weeks and which decades happen. The phrase in markets is, markets tend to take the stairs or the escalator up, and then they tend totake the elevator down.

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