The Volatility of Volatility

Economic Stability, Policy Uncertainty Shocks and Market(s) Volatility

You will never hear us hedge when asked about our expected path for markets by saying we expect markets to be ‘volatile.’ Having spent our formative years on the street in equity derivatives at Lehman Brothers, we respect the concept too much to use it as throw away language when we don’t have conviction about the path for market prices. In our view v…