Welcome to 2020:
This is Tail Risk We’ve Seen Before

Traditional macroeconomic forecasts for the coming year are easy to come by, but harder to confidently exploit – in either direction. Instead, we examine the current relative behavior of stocks across several dimensions and place it within the appropriate historical context. In the process, we attempt to offer an integrated view of equity-market opportunities and risks upon which you can act.

In this paper, we explore:

  • What interactions between stocks are symptoms of market stress?
  • Which symptoms are indicating market stress right now?
  • What questions should you be asking about your equity allocation’s risk exposure?

Welcome to 2020

 

Know Your History