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Forced Retirement Selling May Disrupt Santa Rally | Zed Francis
Forward Guidance
Bonds and Stocks Have Been Selling Off Together
The value of tail risk is that you get the money. You have a position that's negatively correlated to the market that generates a ton of money while the market is crashing. I mean, just look at this is a poorly, intentionally done poor strategy, but look at UVXY ETF over time. The value like tail risk is an absolute on a long-term basis. It is a money losing strategy on an absolute basis because yes, you're going to make 10x during 2008 and March 2020, but long-term you're just bleeding out all of thatyou're buying options that lose money.
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