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High volatility forecasts mean high option expenses.
"High volatility normally indicates a market in transition" he said, in this case further toward a bear market.
In some cases, high volatility can be devastating.
Fama replies that it was natural that there was high volatility during the financial crisis.
This was especially pronounced for stocks with small market capitalisation, high volatility and no listed options.
Paul Polman warned of "high volatility" and "intensifying geopolitical instability" in the world.
There's always high volatility in bad times, that's exactly what you'd expect in an efficient market.
Such high volatility and uncertainty would raise serious questions about the credibility of insurers' financial data".
The sector had delivered the dreadful combination of low returns and high volatility.
And at a time of high volatility in the futures markets, it will not require tougher regulation.
While earnings are growing fast, many technology stocks remain expensive, and the market's unusually high volatility is worrisome, they said.
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