Quants Versus Mortals
Regular readers are familiar with, and probably a bit confused by, the remarkable disparity between recent trends in systematic investor behavior and discretionary equity positioning.
If you're looking for someone or something (and that distinction is becoming more urgent+ with each iteration of ChatGPT) to thank for 2023's equity gains, you can tip your hat to technology either way. Mega-cap US tech shares are responsible for almost all of the S&P 500's YTD performance, and unemotional, sy
If VVIX does not go lower, does that suggest systematics’ discipline would be to hold exposure rather than add? Or is there a VVVIX to watch?
Still think a volatility spike is coming sooner rather than later, … all those spinning plates seemingly can’t perpetuate eternally…