Yes, There Is Volatility

Source: Birinyi     Jeffrey Yale Rubin of Birinyi looks at the issue of low volatility. He makes two interesting observations: In the early 1990s (top chart) the VIX was very low, and yet markets rallied for nearly another decade. In 1995-96, the “VIX more than doubled, yet the market was to gain 58% and a further 20% in…

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