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Skew Has A Story To Tell
"I'm just waiting for an update on skew."
So said one reader last week. That may not be a verbatim quote (I can't find the comment now), but it's close.
I've been doing this (pontificating daily on markets, macro and monetary policy) for a long time in my current incarnation, and even longer if you include previous "lives." In all those years, I'm not sure I've ever heard a "bystander" (if you will) express so much interest in what, among the unordained anyway, counts as a relatively obscure m
Perhaps poor skew just needs a new name. While the word itself is merely an unbiased (if you will) observation or description, it tends to have negative connotations, at least colloquially. For example, you’d be more inclined to use the word to qualify your mixed feelings toward your neighbors on the negative side — so, something like “my neighbors are generally considerate but skew to the nosey side,” rather than “my neighbors are generally considerate but skew to the selfless side.”
I am interested in skew, because like positioning and gamma, you’ve helped educate me about these things and their effect on the markets when otherwise I would have either just shrugged or laid it at the feet of the most sensible red herring of the moment.
So I hope you’ll keep on with the skew — even if you have to call it Skew-star.