Have You Heard The One About The Dirty Shirt And The Flat Skew?

Last week, Goldman suggested it might be time for investors to hedge. Their rationale is as follows: We believe the VIX spike in early February was a significant event for investors, made even more significant last week as we revisited the YTD lows in the S&P 500. S&P 500 realized volatility was 6.8 in 2017 and has nearly tripled to 20.3 thus far in 2018. We expect the increase in realized volatility to have direct effects on the calculation of risk in a variety of equity portfolios (wh