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The Daily Capital
Today’s Capital+ lesson

Convexity: why duration understates what a big rate move does

AdvancedINVESTING 2015 min read

The detailed, more advanced companion to today’s lesson — for Capital+ members.

INVESTING 201 · Lesson 71

Volatility: what risk actually looks like

Daily Desk · Editorial5 min read
Volatility isn't the same as losing money — it's how much a price swings, up and down. Mistaking the two scares people out of good investments.

“The market is volatile” gets said like a warning. But volatility has a precise meaning, and confusing it with “going down” is one reason people panic-sell at the worst time.

Educational, not financial advice.