Detailed text transcripts for TV channel - MSNBC - 20180205:20:24:00
Weeds, short volatility. it is -- and in the market terms it is called gamma hedging. it is a complicated word for -- phrase. it is not a complicated concept. you buy the dip in the stock market and expect volatility to shrink. so what happened is just the opposite. once we saw that decline on friday, those big trades with being unwound and when they have to be unwound by a large number of institutions simultaneously, this is the type of day that you get. kind of like the flash crash, not a crash. a mini crash to be sure. but not a real crash. october 19th, 1987. we were down 23% on a 508 poin...
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