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The last time that volatility didn’t increase in the fall was 2009, as it was declining from the extremely high volatility caused by the Financial Crisis. Even so, there was a move from below 20 to above 30 in $VIX. One of the most benign volatility seasons was 2006, where volatility decreased from 19 to 10 during the July – October period. 2003 showed a similar, non-volatile seasonality

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At the time, Global Payments (ticker GPN) acquisition of Accelerated Payment Technology (APT) for $413 million did not seem to be a milestone event. GPN’s stock in mid-August of 2012 was roughly $20 per share, and the deal to acquire this fully- integrated software solution was met with a resounding yawn. Henry David Thoreau is not usually considered a luminary for financial or stock market wisdom, but we find one of his quotes quite appropriate: “It’s not what you look at that matters, it’s what you see.” Five years after its modest APT acquisition, GPN has dramatically altered the traditional merchant acquiring industry. At $95 per share, up nearly 400%, GPN’s stock reflects its 1st mover advantage

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Through most of the 21st century, as demand from emerging markets accelerated, energy markets grappled with the prospect of oil production rate reaching a peak (or plateau) due to geological limitations. While conventional U.S. production has peaked, the tight oil revolution turned the ‘peak oil’ thesis on its head. Abundant resources, previously bypassed, are now accessible with new technology. However, the hump-like oil chart has reappeared in energy discussions, but this time driven by declining demand

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