What The Vol Shock Hath Wrought
A couple of days ago, I noted that the reset higher in vol surely meant de-leveraging from vol-control cohorts.
It was hardly a groundbreaking suggestion. I wasn't saying anything especially insightful. If you dial exposure up and down based on volatility and volatility spikes, you're dialing it back -- by definition. It's almost tautological.
I don't want to overburden readers' synapses on a sleepy Friday, so I'll make this short. The figure below shows the effect of the recent spot distribut
Next on stage, MSFT! I wonder how the Mega complex will respond to a “beat and blah” (aka “beat and lower”) report from the most consensus long of the group.