Paul Tudor Jones ““Cry ‘Havoc!’, and let slip the dogs of war” seems an apt description for this moment”

Paul Tudor Jones feels “like I’m in my 20s again.” In a February 2 letter to investors reviewed by ValueWalk, where he quotes Shakespeare, the well-known hedge fund manager was documenting his thoughts just as the jaws of what might be considered the oddest market correction in history were about to clamp down. Those involved in creating volatility products that imploded bore no financial responsibility, but investors who operate under short time horizons found themselves playing an unfamiliar game where traditional economic correlations went bust.

The letter was wide-ranging and addressed numerous meaningful topics. But at a time when the VIX index can increase in value and break its price correlation ratio with the underlying S&P 500 that...