
Put simply, if you are long convexity, your risky exposure increases as the market moves in your direction and decreases as it move against you (yay!). If you are short convexity, you become less exposed as the market moves favorably and you become more exposed as it moves the wrong direction (uh oh).
Put simply, if you are long convexity, your risky exposure increases as the market moves in your direction and decreases as it move against you (yay!). If you are short convexity, you become less exposed as the market moves favorably and you become more exposed as it moves the wrong direction (uh oh).
…king it easier to capture value for goods & services that ordinary people provide and by creating a means of storing value today that can be used in the future — currencies have literally changed society and the world.