Investigating The Market’s “Nightmare Scenario”

Right, so one thing people are becoming increasingly concerned about is the extent to which modern market "innovations" could end up backfiring in spectacular fashion in the event the current low vol, BTFD regime were to suddenly slam into reverse. I wrote about this a couple of days ago and this is probably a hyperbolic, overwrought assessment, but it captures the essence of the potential problem: ...it's looking more and more like this won't play out over six or eight months like it did durin