The February Vol. Spike ‘Shattered All Previous Events In Terms Of Fragility’

Handle with care.


‘People Were Laughing At Us’ – How One Fund Made 8,600% On ‘Vol-pocalypse Now’

Then they went skiing. 

End of story.

Did ‘The Market’s Boogeymen’ Just Suffer Their Worst 5-Day Loss On Record?

This is a particularly touchy subject under normal circumstances and this week is not a week that falls in the “normal circumstances” category, which means this debate is even more contentious than it usually is.

Good News! VIX ETP Rebalance Risk Really Isn’t A Problem Anymore!

In that same kind of way where that festering hornets’ nest in your garage isn’t a problem anymore…

Here Are The Remaining Risks And Here’s What Jerome Powell Can Do In A Crisis

Needless to say, it’s probably prudent to reserve judgement on whether we’re out of the proverbial woods…

The Moon Shot.


What Caused Japan’s Mini-Volatility Shock?

All’s well that ends well in Japan after a six-day slide. Or maybe not.

‘Wolves’: Albert Edwards Returns To Outline The ‘Nightmare Scenario’

“It could happen tomorrow given the extreme expense of US equities and the near universal consensus of a continued acceleration in the economic cycle despite the Fed also in the midst of a tightening cycle.”

Chuck Norris Goes Long Volatility

“…people think that even Chuck Norris can’t make money buying vol.”


But not like Beldar.

Searching For Gandalf: Traders Weigh In On Thursday’s ‘Kolanovic Moment’

“Is this really sensible?!”…

Is Risk Parity Deleveraging The Biggest Risk To Markets?

“However, relative to CTAs there is much less transparency on the total size of assets in risk parity and equity vol control strategies let alone the subset of which is completely rules-based.”

SocGen Warns On Tech, Momentum: “When It’s Time To Hit The Door, You Better Move Fast”

“The sell-offs themselves are not particularly unusual, but the uniformity of the prices moves all on the same day indicates a market driven by price chasing momentum, with investors heading for the door all at the same time.”

One Chart Shows Why Emerging Markets Haven’t Cracked (Yet)

Any questions?

This Is A Disaster Waiting To Happen

So last week, I put you on “contagion alert” amid the chaos in commodities. I’m not entirely sure why, but it doesn’t seem like people generally appreciate the extent to which collapsing metals, plunging crude, and China squeezing leverage out of the system is a really – really – bad combination of factors when it’s bumping…