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Lee Robinson: Short-vol trades worsened market losses

Former Trafalgar Asset Managers manager Lee Robinson has added his voice to the chorus blaming strategies selling volatility for the market reversals earlier this month.

“This is the first time that rising volatility has caused markets to fall rather than the other way round,” Robinson, who now runs Altana Wealth, said in a research note this week. “This was due to the large build up in strategies explicitly or implicitly selling volatility.”

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