Welcome to Tail Hedging

The Christmas season brings joy and cheer, A time to enjoy the festive atmosphere, But tail risks lurk in the shadows, So to hedge our bets we must hedge our portfolios, Protected from the jaws of volatility,

Ben Bernanke needs to feel like his life means something—contributed to society in some important way. Making significant contributions to the evolution of new tools of monetary policy lets him leave a mark. There is nothing unusual about this need because it is felt by many people, but perhaps not with the same intensity as…

Universal Tail Risk

I’ve been busy enjoying the warm weather, spending time with family and friends, and making the most of the long days. But, as the saying goes, all good things must come to an end. 🙁 I had a great time on my trips to California and Northern Michigan. I felt lucky to get out to…