With the stock market stuck running in place for the better part of four months, investors have resorted to making money by betting against price swings.
And it’s worked.
But while many have started viewing the current environment as the new normal, JPMorgan’s quant guru has a warning: it’s not going to last — and when the shift comes, it’s going to hurt.
One big reason why shorting volatility can be dangerous is the ever-present possibility that the market will make a unexpectedly sharp move, according to Marko Kolanovic, the firm’s global head of macro quantitative and derivatives strategy.
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