The Art of Staying Invested
The VIX as a Risk Compass
TCM is not a market-timing firm or a static hedge provider. We are a volatility-informed risk manager seeking better full-cycle outcomes using the VIX marketplace as an early-warning system for portfolio risk.
Our proprietary Volatility Dashboard helps us decide when to lean into equity exposure, when to reduce risk, and when to add defensive positioning.
TCM Volatility Dashboard screenshot. Source: TCM. Click for larger image
more than just defense
Rather than a mechanical trading system, the Dashboard is a method of analysis and decision-making that helps keep our portfolios aligned with current market conditions.
The goal is not to avoid volatility. The goal is to participate enough in good markets and defend enough in crisis markets to improve full-cycle results. By reducing exposure only while crisis conditions are present, TCM strategies seek to buffer major market downturns at a fraction of the cost of “always on” protection.
Learn How We Think About Risk
VIX Markets & Portfolio Risk
Why volatility markets can offer useful clues about changing portfolio risk.
Normal vs. Left-Tail Markets
Why risk-managed strategies should be evaluated across different market environments.
Up/Down Capture asymmetry
A better way to evaluate how a strategy participates in gains and responds to declines.
Static Hedge Drag
Why always-on hedging can become a long-term performance headwind.
Drawdown Timing
Why the timing of protection can matter as much as the amount of protection.
Full-Cycle Hedging Outcomes
Why hedging should be judged over a full market cycle, not just during crises.