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Home>Opinions and Analysis>"Everyone in the Room is Selling Volatility": When it Rises, Sell More

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"Everyone in the Room is Selling Volatility": When it Rises, Sell More

Mish

Global Economic Analysis

Published : December 07th, 2017

138 words - Reading time : less than a minute

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FOLLOW : Bank European Funds Game Georgia Investment Investors Ltcm Plan Volatility

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Category : Opinions and Analysis


	Volatility was once just a measure. Now it's an income-generating product. Everyone is selling it says Pennant Capital. "We are pretty late in the game," says Alan Fournier, founder of Pennant Capital in an interview with James Grant. Fournier tells Grant about a recent experience in which he made a presentation to a group of pension investors at the request of an investment bank. Following his presentation, Fournier mentioned selling volatility to the host. The host replied "I want you to know that everyone in this room is selling vol." Fournier's presentation was to a group of large European pension funds. Fournier described their strategy. "When they get a selloff, they sell more." This is the Nifty-Fifty and LTCM on steroids. Some major pension plan is going to get carted out with a total loss at some point.

Source : www.themaven.net

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com

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