Ultimate Short Vol Movie (Chris Cole, Harley Bassman, Michael Green) | Interviews | Real Vision™

Mike Green returns to tackle one of his favorite topics with two titans of the volatility world: equity specialist Chris Cole of Artemis Capital and “Mr. Convexity,” Harley Bassman, who invented the fixed income volatility index. The three dissect February’s “volmaggedon,” and debate whether this was merely the appetizer for a much larger event. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch more interviews like this: https://rvtv.io/2LjMB5H Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Ultimate Short Vol Movie (w/ Chris Cole), Harley Bassman Interview with Michael Green | Interviews | Real Vision™   / realvisiontelevision   Transcript: First of all, one of the most funny things about that movie, Sorcerer, which is a great film-- It's a William Friedkin film. And I think it was a remake of Wages of Fear. So once again, they have this-- they're paid this ridiculous sum of money to drive a truck full of nitroglycerin to put out an oil well fire in the middle of a very, very dangerous jungle. So this is the ultimate short vol movie. Any minor mistake causes these trucks to blow up. I don't want to give too much away, but one of the most beloved-- long story short, they go through this-- they're driving through these monsoons, and there are these terrible storms, these rickety bridges. And one of the most beloved characters is able to survive all of this. And then he's driving and they make it through all the difficult times and it's a tiny pothole on the side of the road that causes their truck to explode and kill one of the beloved-- You're giving it away now. So who knows what-- it might be something that is just completely random. The share buyback thing is fascinating, because-- you know, I've done a lot of research on this. I don't think people realize how much the low vol environment has been affected by the share buyback phenomenon. If we put some numbers to share buybacks, $4 trillion worth of share buybacks-- there's going to be over $800 billion this year. One of the things that caused the market to rebound so quickly in February was that we had approximately $200 billion worth of share buybacks and accelerated share buybacks come online. Completely-- it was really the buyer that kept the market afloat. That's more share buybacks in two months than we had in all of 2009. Filmed at the Global EQD 2018 Conference in the Wynn Las Vegas on May 23, 2018.