Volatility-A Quick Note.

The volatility this quarter as measured by the VIX is simply off the charts. That is I literally had to rejigger my charting software so that I could get it to scale. While I only have charting data going back to the mid 90's, I thought it would be worthwhile to see how this current quarter compares to the past. (Remember this quarter is only one month old). The only two quarters with comparable volatility where the 3rd and 4th quarters of 1998. That interestingly enough, was also the period when Long Term Capital Management almost took down the banking system.