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Alpha Exchange

Sharing thoughts and insights on market risk, hedging and portfolio construction.

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The Shock Heard 'Round the World: US Government Bonds

Can the Chief Source of Global Shocks Remain the Shock Absorber?

Closing Thoughts

A Brief Review of Risk in 2025

Price is the Only Fundamental

Some Thoughts on Market Reflexivity

New Sayings on Vol and Risk

Market Insights through Pithy Proverbs

Sayings on Vol and Risk...A Fresh Five

Hello listeners and welcome to what was originally a series called 25 sayings on vol and risk.

The VIXgilantes Strike Back

Sizing Up the Chaos of Early April

The Vol Shock Heard 'Round the World

Thoughts on a Historic Series of Days in Markets

Digital Gold and Actual Gold

Anti-System Assets Worth Some Allocation

IBIT...The Hottest Option on the Planet

An Amazing Start for Listed Options on Bitcoin

Signals of the Cross-Asset Type

Spillback Risks for Equity Investors

The VIX is Too Low…Here’s Why and Why You Should Care

Contemplating Agents of Spill-Over and the Impact on Vol

The Alpha Exchange Hits Substack

Thoughts, analysis and commentary on the comings and goings of risk