Otherwise everybody will keep analysing and investing, and it’ll be Volatility Indexes all the way down.

It’s basically as we explain in panel one:¬†volatility is whether the value of the stock is stable, or likely to fluctuate a lot – which, of course, affects investment decisions. So an index of the Volatility Index shows whether the Volatility Index is likely to fluctuate or remain stable, which in turn is also a useful tool for analysing the market and making investment decisions.

This meta-index has existed for two years, but only became a topic of conversation for me and Robert because of recent¬†extreme changes to the Swiss Franc’s volatility, and we realised that the existence of such an Index-Index was practically a panel three already.

Also visual gags.