Volatility Mumbo-Jumbo
I just read someone quote hedge-fund manager Stan Jonas as having recently said the following:
"Traditional "mumbo-jumbo" about skews, vol surfaces, have now become relegated to those that do not trade."
Very interesting. So all those academics that make a living producing an endless stream of papers on the vol skew have basically been talking to themselves? Been involved in irrelevantly theoretical mumbo-jumbo? All I can say is, my goodness!
