Chris Cole

Chris Cole

Formal First Name
Christopher (Chris)

Chris Cole is the Founder and Chief Investment Officer of Artemis Capital Management LP, an investment research firm. He launched the firm following verified and substantial proprietary account gains during the 2008 financial crisis. Cole is a pioneer in the trading of volatility as an asset class, specifically volatility futures and options. Through his deep dive research publications, he has made a real contribution to the industry’s understanding of volatility. Over the past decade, his macro-volatility research amassed a following on Wall Street, and has become highly influential in derivative and macro trading circles. Cole previously worked in capital markets at Merrill Lynch and structured over $10 billion in derivatives and debt transactions.

Professional Experience

Academic History



  • Volatility at World’s End (2012)

  • Dennis Rodman and the Art of Portfolio Optimization (2016)

  • Volatility and the Alchemy of Risk (2017)

  • What is Water in Markets (2018)

  • Allegory of the Hawk and Serpent (2019)

  • Moneyball for MPT (2021) 


  • Cole is a frequent speaker at industry conferences and in the mainstream financial media. 

  • He has appeared in The New York Times, Business Insider, The Guardian, Yahoo! Finance, and Real Vision, among others.

  • His research papers are widely regarded as some of the best macro-vol thought pieces of the past decade.

  • 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.