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A Bar May Be the Place to Understand Markets: Buchanan

(Corrects VIX index peak in first paragraph. For more Bloomberg View, click on VIEW <GO>.)

Feb. 7 (Bloomberg) -- The aftermath of the Lehman Brothers Holdings Inc. bankruptcy in 2008 was a scary time: One measure of stock-market volatility, known as the VIX or the “fear index,” reached a peak daily closing price of more than 80, compared with about 18 today. Scarier is the knowledge that we’ll be there again sometime. That’s how markets go: Unexpected chaos is the rule.