Convexity is Key

Convexity is Key

Let’s talk about the last couple weeks in the market and what we are doing about it. Not to provide homework, but if you haven’t read the following links, please do. The positioning of portfolios and the thoughts about our positioning will be much more effective....
Convexity is Key

Protect and Participate

  “Risk isn’t what you think is going to happen, it’s what hurts if it does happen.” David Dredge, Convex Strategies   Reading and listening to David Dredge has been a joy; it’s a great thing to see how a practitioner can...
Convexity is Key

The Real Purpose of Risk Mitigation

“I argue that cost-effective risk mitigation, when done well, doesn’t just take you out of risk, but actually allows you to take on more risk.” Mark Spitznagel We’d tweak “take on more risk” to “pursue more return” but...