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Nir Kaissar

Pipe Down and Enjoy the Calm

Trend followers don't need to rely on market tumult.
Photographer: Christopher Furlong/Getty Images

Investors are hard to please. They wail and moan when markets are volatile. And when markets are quiet, well, they complain about that, too. 

Not me. I say that the recent calm in markets is pure bliss. The CBOE Volatility Index -- the widely followed gauge of U.S. stock market volatility better known as the VIX -- has averaged 19.5 since its inception in 1990. But so far this year, the VIX has averaged just 11.5. (The lower the VIX, the lower the volatility, and vice versa.)