Authored by Christopher Cole via Artemis Capital Management,
Read Part 1: Fragility In The Market's Medium, here...
“The post-modern volatility regime poses the question whether VIX ETNs and futures are large enough to influence the much deeper SPX options market. The existence of this dynamic would represent a self-reinforcing feedback loop with potentially dangerous repercussions.” -Artemis, “Volatility at Worlds End” March 2012
“The wrong ‘risk-off’ event may expose a hidden liquidity gap in the short VIX complex that could unleash a monster.” - Artemis, “Volatility and Allegory of Prisoners Dilemma” October 2015
“ The Global Short Volatility trade now represents an estimated $2+ trillion in financial engineering strategies that simultaneously exert influence over, and are influenced by, stock market volatility... Like a snake blind to the fact it is devouring its own body, the same factors that appear stabilizing can reverse into chaos.” - Artemis, “Volatility and the Alchemy of Risk, October 2017
LOT MORE of course,,,,,,,,,,
http://www.zerohedge.com/news/2018-09-24/understanding-volatility-storm-come-part-2-volatility-reflexivity-and-liquidity?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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