No, the VIX is Not Broken

Hardly a month goes by without some pundit trumpeting that the VIX is broken. But before you worry too much, consider some of the non-obvious characteristics of the Cboe’s Fear Gauge. I often hear people in the finance industry saying that “The VIX® is broken”.  The specifics of what they say varies a lot, but the typical pronouncements go something like this: The Cboe’s VIX …

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