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Seth Golden posted an update 4 years, 5 months ago
Jefferies: Thursday’s drawdown was a 5 standard deviation move, something we have only seen 15 times since 1990. Looking at past performance, and following such a de-risking, +60D SPX performance averages +602bps. When you removed the 7 instances that occurred in 2008, +60D performance averages 19%.