Volatility Budget
topic on 1 show · 1 statements across 1 episodes
1 statements about Volatility Budget, every show
Fixed volatility budgets force endowment managers to sell low and buy high
“A lot of people out there in our business think about the average endowment portfolio should have 10% standard deviation around its annual returns, 10% volatility budget, which makes no sense, because what happens when markets go down, volatility goes up, all …”