‘Agnostic’ Sellers: The ‘Doom Loop’ During The Pandemic

Name something more potentially dangerous than "a large, fundamentals-agnostic, owner of equities." Go ahead, I'll wait. I'm just kidding. There are certainly more dangerous things in the world than systematic investor cohorts, but over the past several years, market participants have become apprised of the extent to which volatility-sensitive strategies controlling hundreds of billions in AUM can wreak havoc when something goes awry. As Nomura's Charlie McElligott is fond of reminding folks,