NEWER HEDGING VEHICLES
My old cyber-friend, Bill Luby, also known as Professor VIX, just published a chart of several recent (2011) stocks which hedge based on volatility avoidance. Since we have discussed many traditional methods for reducing volatility risk, this is quite interesting: go to Bill's site via "Blogs I Like" in the left-hand column to click through to his site. Look at his January 13,2012 blog post.
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