Lepto Curtic in a Sumo Market, Right?

The most dangerous set up from a leverage perspective wasn't when leverage was low, but when it was high and dropping. That that is kind of the significant thing to look at, absolutely no doubt. You can geta two thousand 17 in a sumo market, right, where markets are more pinned than ever,. It's lepto curtic in the sense that it's 30 % lower than 200 years of history. And so i think it's important to note that that does not mean you get bigger moves. You just get more historic, strange relative to history, outcomes because of the amount of potential energy in the system.

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