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How to Be a Successful Fund Manager When Thinking About Long Volatility
Chris: Everything that we do as a fund when thinking about long volatility is strictly in the tails. So we're always buyers of very,very, very, very cheap contracts. And what you could see immediately is when volatility spikes up and everybody's in a panic, those calls that are 200% out the money are not far off from the price that are 100% out themoney. That's really our view because wherever we think that the tails are cheap or they could be potential dislocations that are occurring,. Chris: Our view as a firm is to be buyers of tails and long curtosis across the board.