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Michael Green - The Active Impact of Passive Investing (S5E1)
Flirting with Models
Is There a Negative Correlation Between Bonds and Stocks?
i have, to a certain extent, against fears that the correlation between bonds and equities are going to go completely haywire. I systematically enforcing a negative correlation. In a way, systematicall enforcing, because the bonds go up and stocks are down, then youare going to sell bonds n your room by stocks rights. It is building this end of the market. The minute you start changing that character and introducing players who buy regardless of valuations it causes valuations to start to rise. This matches almost perfectly with the empirical data we've seen. But if i take away that flexibility and i say, know, you have to deploy that capital, changes the market structure significantly.
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