In 2024, I did a 5-part podcast series called “25 Sayings on Vol and Risk”.  These are observations I’ve found do a nice job of describing how markets work, or perhaps better said, how markets sometimes fail to work. Because markets are always teaching us lessons, I couldn’t help but add to the original 25 with five new sayings. I’ll follow up in short order with another five.

Here are our Sayings 26-30:
 

1. “Financial market objects at rest tend to stay at rest.”
    
2. “Realized vol rules the world.”
    
3. “My portfolio is more diversified and liquid than I thought, said no one ever.”
    
4. “The ten-year note, not the SPX, is the risk asset.”
    
5. “Shake hands with the government and sell what they’re selling.”
    

Hope you Enjoy!