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Black Scholes Turns 50
Alpha Exchange
The Cost of Renting an Umbrella During a Downpour
When a market experiences disruption, a vol curve can become inverted. Investors find their risk-adjusted exposures much larger than they intended them to be. These episodes can force de-risking and also a rush to protect portfolios through options-based hedging.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode