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Jason Buck - Designing the Cockroach Portfolio (S6E1)
Flirting with Models
How to Define Long Volatility and Tail Hedging
The idea with tail risk is like an insurance you would have on your house or anything else. You're basically buying deep out of the money puts. As soon as the market drops to there, you should have some convex returns. That helps truncate your left's tails and reduces the volatility tax your portfolio.
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