Paul Kim, Simplify Asset Management – Embracing Convexity Through The ETF Structure | #402
The Meb Faber Show - Better Investing
Put Spreads - How to Protect Against Multiple Scenarios
The original idea was simple. If you want to spend, let's say, two % a year, that means, roughly, call it 50 bips a quarter, ok? So that sounds simple, 50 bits of amo each quarter. But guess what? More than half of the drawdowns in history are extended. And then very quickly you come into september, october, and calendar lips and implied valls go up and they stay up. It's expensive to do options, while for that same amount of budget, can you buy enough protection? Let's find more clever ways to protect. We keep iterating. Internally, we think of it almost like software version
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