James Montier of GMO is out with another interesting thought piece. For those of you not familiar with James Montier he is a great value investing philosopher. And has written a good book on the topic, "Value Investing: Tools and Techniques for Intelligent Investment".
In his latest piece he discusses the obsession with tail risk and compares it to previous fads such as portfolio insurance. It is nothing shattering but overall its fairly enjoyable.
James Montier - Tail Risk