2020 is not a year during which you can write off indeterminacy using that old adage: “There’s always uncertainty”.
Category: volatility
Nomura’s McElligott: The Machines Are Getting Long And Covering Shorts In Real-Time
“Remember my generic thinking on these strategies: ‘Volatility is the exposure toggle.'”
Goldman: Expect High Volatility And Low Risk-Adjusted Returns
Curb your enthusiasm. And buckle up.
‘We Need To Re-Evaluate Our Understanding Of Volatility’: The Babadook Revisited
To be sure, we had ample warning.
‘Now That’s How It Was Supposed To Go!’ Nomura’s McElligott Talks Selloff, Sees ‘Rally Looking Out’
“The ‘trade up into-, trade down out of-‘ the June serial options expiration phenomenon [is] finally kicking in”.
Nomura’s McElligott: ‘One Very Significant Source’ Of US Equities Buying Started A Daisy Chain
“…we might have triggered a ‘buyers are higher’ dynamic”.
Why Nomura’s Charlie McElligott Sees Potential For A Short-Term Market Pullback
“…a meaningfully larger drop-off”.
Nomura’s McElligott: Shorts ‘Mangled’ In ‘Risk-On Panic’
And yet, remember that all of this comes with an important sequencing caveat.
2020 Has Seen More 3-Sigma Cross-Asset Moves Than 2008 – And It’s Only June
“…even though we are not halfway through the year yet”.
‘Classic Butterfly Effect Knock-On’: Nomura’s McElligott Explains Thursday’s Dramatic Selloff
“So what was yesterday all about?”
‘What A 14-Sigma Momentum Crash Looks Like’ (Or, The Culmination Of A Decade-Long ‘Life Versus Death’ Battle)
If you’re wondering where that falls on the “swan” scale…
Nomura’s McElligott On ‘Big Deal’ Trend Inflections And June Sequencing
“…a broader distribution of outcomes [and] a wider range thereafter”.
Nomura’s Charlie McElligott: There’s A ‘Remarkable,’ ‘Tectonic’ Shift Occurring In US Equities
“This is obviously what the market is debating right now in real-time”.
Unshackled (Redux): Nomura’s McElligott Sees Potential For Wider Price Moves Next Week
Prepare for a possible ‘unclenching’.
With Stocks In ‘No Man’s Land,’ Nomura’s McElligott Delivers Summer Outlook, ‘Roadmap’ For Second Half
The summer fade, and a possible bounce thereafter.
Nomura’s McElligott: New US-China Fight Could Be ‘Dreaded Macro Shock-Down Catalyst’
Just when you thought it was safe…
Nomura’s Charlie McElligott Explains Why Stocks Rallied In Face Of Depression
These are modern markets. You must learn to speak the language.
Collapse In Vol Of Vol Shows ‘Grab For Tails’ Out Of Steam, Nomura’s McElligott Says, As Stocks Try To Normalize
“If you’ve learned anything post-crisis…”
Depressions Used To Mean Something.
“Black & white memories”.
So You Wanna Be A Grizzly Man?
It’s perilous.
Nomura’s McElligott Talks Flow Catalysts As VaR Shock Fades, Markets Eye Stimulus, Recession
“…despite everybody knowing this is just the beginning of a horrific few months of data to come.”
Nomura’s McElligott: The Fed Is Now ‘Chief Risk-Taker And CIO’ (And Other Fun Market Notables)
So much to backstop, so little time.
After ‘Great Liquidity Crisis,’ JPMorgan’s Kolanovic, Nomura’s McElligott Look Back And Ahead
“Many aspects of this crisis have played out in-line with our prediction”.
Gamma Drop-Off Offers Hope, But Now We Know: The Babadook Is Real
You can’t get rid of the Babadook.
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