SocGen: “Any Shift In Equity Volatility Could Be Ruinous”

SocGen: “Any Shift In Equity Volatility Could Be Ruinous”

SocGen's Andrew Lapthorne has talked a lot over the past several months about corporate leverage. See for instance the following posts: One Bank Asks: “Who Will Burst This Bubble?” One Bank Goes Deep, Finds “The Major Performance Differentiator” For Stocks In the latter piece, we highlighted the following chart from Lapthorne which shows that "the major performance differentiator in the US market so far this year is indeed Balance Sheet risk, with the strongest balance sheet stock
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