Highlights
- On Friday, the VIX index surged 59% from Thursday's close to Friday's high, before settling in with a 25.82% gain.
- While large, the move was actually 'average' compared to the fear gauge's past 'freakout' episodes.
- More importantly, forward returns following similar volatility spikes in the past have actually been well above average.
- All of this adds to our thesis that a) we are likely in for a volatile corrective period leading up to the elections, and b. . .
