What is Water in Markets? Volatility and the Fragility of the Medium A must read paper on Volatility https://static1.squarespace.com/static/5581f17ee4b01f59c2b1513a/t/5ba146f40ebbe8c212e8b7c7/1537296120640/Artemis+Letter+to+Investors_What+is+Water_July2018_2.pdf