The Case for Tail Hedging

Podcast: Alpha Exchange · Dean Curnutt

Opublikowano: 2026-09-04

In this discussion, I make the case for tail hedging. I communicate two main ideas. First, I lay out the concept of the “fourth type of risk off”, an episode that features instability in the back end of the US bond market. As I’ve said, nothing can really work in markets if the Treasury market does not. Count me as worried that the US fiscal issues are incredibly difficult to solve – we wouldn’t be here otherwise – and that the timeline to address them has shortened. Second, I argue that the US economy and market are far too expo...