Thinking in Markets

S1E46 - Why Volatility Scales, But Drawdown Doesn't


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Michelle and Vox unpack a quiet trap in risk thinking: volatility can often be scaled across time with simple rules, but drawdown cannot. By the end, listeners will understand why a strategy can look orderly on paper, then still become dangerous once path dependence, leverage, and loss clustering enter the picture.

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Thinking in MarketsBy Vox