People

Chris Cole

Chris Cole

Christopher (Chris)
Cole
Austin

Christopher Cole Founder and CIO of Artemis Capital Management. He decided to establish a fund after achieving substantial proprietary returns during the 2008 financial crash. Cole is recognized as a second wave pioneer in the trading of volatility as an asset class, specifically volatility futures and options. Over the past decade, his macro-volatility research amassed a following on Wall Street, and thereafter widely quoted by the mainstream financial press. Cole is a frequent speaker at industry conferences and in the mainstream financial media.

Professional Experience


Academic History

  • His 2012 research paper entitled, “Volatility at World’s End” was credited with re-pricing hundreds of millions in S&P 500 index options, and was named one of the best macro-economic thought pieces of the last decade. 
  • His 2017 paper "Volatility and the Alchemy of Risk" warns about self-reflexivity in the $2 trillion global short Volatility trade and has been widely referenced.
  • Cole was one of the first to warn about various market risks including but not limited to:
    • dangerous self-reflexivity in VIX ETPs and short vol (2012, 2015, 2017),
    • "Japanization" of US vol (2013),
    • the distorting effect of share buybacks on markets (2015,2017),
    • the danger in the assumption of stock-bond anticorrelation (2015), and
    • unintended effects on liquidity from passive investing (2015, 2018)