ARTEMIS CAPITAL MANAGEMENT

Volatility is an instrument of truth

Volatility as a concept is widely misunderstood. Volatility is not fear. Volatility is not the VIX index. Volatility is not a statistic or a standard deviation, or any other number derived by abstract formula.

Volatility is no different in markets than it is to life.

Regardless of how it is measured volatility reflects the difference between the world as we imagine it to be and the world that actually exists

We will only prosper if we relentlessly search for nothing but the truth, otherwise the truth will find us through volatility