Ben chabot(@chabot_ben):Stock market crash risk and volatility in general increases in September. This isn't just a statistical illusion. There's a large academic literature explaining why calendar effects increase fundamental news flow in September and how the looming end of the fiscal year changes the trading behavior of fund managers trying to lock in gains before bonus time. I walk through the reasons in the blog post linked below, but in my opinion, one of the most eloquent explanations for the end of year risk-aversion was articulated by Billy Ray Valentine in his 1983 "G.I. Joe Kung-Fu Grip" theory of loss aversion... Blog:

2026.09.02 17:56

Stock market crash risk and volatility in general increases in September. This isn't just a statistical illusion. There's a large academic literature explaining why calendar effects increase fundamental news flow in September and how the looming end of the fiscal year changes the trading behavior of fund managers trying to lock in gains before bonus time. I walk through the reasons in the blog post linked below, but in my opinion, one of the most eloquent explanations for the end of year risk-aversion was articulated by Billy Ray Valentine in his 1983 "G.I. Joe Kung-Fu Grip" theory of loss aversion... Blog:

显示更多