Gone Fishing Newsletter: The 1% Outlier Event That Tanked Equities 30%

What we have witnessed in markets of late is a once-in-a-lifetime event: a 1% outlier event in risk-parity de-risking that slammed hedge funds Ronin, BlueCrest,Citadel, Millennium, and ExodusPoint to breaking points, caused some Fixed Income funds to restrict redemptions and helped to trigger, to date, a 32% pullback in SPY. This Value at Risk (VAR) chart […]