Christopher Cole Headshot 2019Erik Townsend and Patrick Ceresna welcome Chris Cole back to MacroVoices. Erik and Chris discuss:

  • Dissecting what happened in February 2018
  • Implicit and explicit short vol risk
  • Perspective on the next phase of the short vol unwind
  • Impacts of the reduction of central bank balance sheets
  • Link between volatility and the credit cycle
  • Will the Fed have the ammunition to come to rescue?
  • Perspective of the risk parity funds
  • Stock/bond correlation risk to pension funds
  • What does it take to make money long volatility?

You are strongly advised to listen to Chris Cole’s prior interview, The Alchemy of Risk before listening to this update
Click to listen to Chris Cole's interview back in Janauary 2018

Click here to register for access to supporting materials.

Get embed code for this episode. | For other embed code options click here | Download the audio MP3 File (54.01 MB) | Download the podcast transcript:   pdf Here (159 KB)

Christopher R. Cole, CFA is the founder of Artemis Capital Management LP and the CIO of the Artemis Vega Fund LP and Artemis Callisto LP. Mr. Cole’s core focus is systematic, quantitative, and behavioral based trading of exchange-traded volatility futures and options. His decision to form a fund came after achieving verified proprietary returns during the 2008 financial crash trading volatility futures. Mr. Cole's research letters and volatility commentaries were influential in derivatives circles and thereafter widely referenced and quoted by the mainstream financial media, academic, and institutional asset management communities.   He has been widely quoted by publications such as the Wall Street Journal, Financial Times, Bloomberg, The Economist (Economic Intelligence Unit), DROBNY, 13D, Grant's Interest Rate Observer, International Financing Review, CFA Magazine, and Forbes. He previously worked in capital markets and investment banking at Merrill Lynch. During his career in investment banking and pension consulting he structured over $10 billion in derivatives and debt transactions for many high profile issuers. Mr. Cole holds the Chartered Financial Analyst designation, is an associate member of the NFA, and graduated Magna Cum Laude from the University of Southern California.