An Inventor of the VIX: ‘I Don’t Know Why These Products Exist’
VIX Tumbles After Hitting Two-Year High
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Fifteen years ago, Devesh Shah was still in his 20s when he helped invent the stock market’s current barometer of fear.
It was a new version of the Cboe Volatility Index, a gauge of expected price swings for the S&P 500 Index. The VIX, as it’s known, has become the talk of Wall Street after Monday’s record surge, sending many products tied to it into disarray.