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CS Market Structure: More Volatility in Store for Year-End?

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Rupert Hargreaves
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Credit Suisse's trading strategy market research team believes that "fear" in the markets is subsiding, and while volume shocks can appear at any time (as proved earlier in the year) historical data shows that for the month of October, volume generally isn’t that exceptional.

Indeed, barring October 2008 and October 2014, October volume has been relatively underwhelming compared to the year's average. Since 2004, October volume has been 8% above the year’s average. Excluding 2008 and 2014, the average is 5%. During 2009, 2010, and 2012 volume was actually less than the year's average.

Volatility: Annual trends

Moving away from volume seasonality on to...

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway.Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK.Rupert covers everything value investing for Hedge Fund Alpha