Dusted ourselves down and carrying on, are we? BlondeMoney has taken your temperature and this is why you’re saying that the inverse-Vol product blow-up of Monday night doesn’t really matter:
- It was an esoteric product with hardly any AUM
- Caveat emptor, if you buy something and don’t read the prospectus, more fool you
- We all knew this stuff was dodgy, so it’s no surprise
- No-one has found any significant bodies
- Market was too one-sided, this cleared out positioning and gives . . .