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Caleb Conlin
August 2023 Volatility Briefing
Implied volatility, as measured by the Cboe® Volatility Index (the VIX®), averaged 15.85 in August. Consistent with its typical relationship, average implied volatility exceeded realized …
After the Bear: A Brief History of Market Recoveries
Long-term equity returns after years like 2022 are attractive but volatile: Five-year periods after bear market drawdowns produced double-digit annualized returns in six out of …
Are Equities On Sale?
Savvy shoppers know a “25% Off” sale is not necessarily a good deal. Is the item discounted from a fair price or did the retailer …
August 2022 Market Recap
The S&P 500® Index returned -4.08% in August, bringing its year-to-date return to -16.14%. After a 22.99% drawdown from January 4 through June 16, the …
Try Not to Think About Elephants
Recession. The “Big R” of economics. One of the more confounding aspects of the word is that just hearing it can cause people to behave …
July 2022 Market Recap
The S&P 500® Index returned 9.22% for the month of July, bringing its year-to-date return to -12.58%. After a bruising June in which the S&P …
Active PutWrite Performance Summary – Q1 2022
War in Ukraine paired with rising interest rates, record inflation and strict sanctions on Russia that helped drive oil above $100 per barrel drove the …
2022 Active PutWrite Commentary – Q1
Read our Q1 Active Putwrite Commentary for a review of strategy performance and positioning during the quarter. 2022 Q1 Active Putwrite Commentary
Index/RA Performance Summary – Q1 2022
War in Ukraine paired with rising interest rates, record inflation and strict sanctions on Russia that helped drive oil above $100 per barrel drove the …
Active PutWrite Performance Summary – Q2 2022
Record-high inflation persisted, accelerating the Federal’s Reserve’s monetary tightening schedule while souring investor sentiment, resulting in a 19.69% decline for the S&P 500® Index from …