How do I deal with constant volatility?

.BSLFUTXJMMBMXBZTŗVDUVBUF#VUXIBUFWFSXBZUIFZNPWF BDPNQSFIFOTJWFŖOBODJBMQMBOJTPOFPGUIFCFTU
TUSBUFHJFTUPTUBZPOUSBDLUPXBSEZPVSHPBMT:PVS6#4'JOBODJBM"EWJTPSNPOJUPSTUIFDVSSFOUFOWJSPONFOUBOEXJMM
XPSLXJUIZPVUPFOTVSFZPVSQMBOBOEZPVSQPSUGPMJPSFŗFDUDIBOHJOHDPOEJUJPOT7PMBUJMJUZNBZCFVOTFUUMJOH CVU
XJUIBMPOHUFSNQMBOJOQMBDF ZPVDBOGFFMNPSFDPOŖEFOUBCPVUUIFGVUVSF

'PSTPNFPGMJGFÁTRVFTUJPOT ZPVÁSFOPUBMPOF5PHFUIFSXFDBOŖOEBOBOTXFS

Paul A. Toby
4FOJPS7JDF1SFTJEFOU¾8FBMUI.BOBHFNFOU

QBVMUPCZ!VCTDPN

Paul J. Monacelli
4FOJPS7JDF1SFTJEFOU¾8FBMUI.BOBHFNFOU

QBVMNPOBDFMMJ!VCTDPN

STM Wealth Management Group
UBS Financial Services Inc.
8FTU#JH#FBWFS3PBE 4VJUF
5SPZ .*

GBY

ubs.com/team/stmwmgroup

"TBŖSNQSPWJEJOHXFBMUINBOBHFNFOUTFSWJDFTUPDMJFOUT 6#4'JOBODJBM4FSWJDFT*ODPšFSTCPUIJOWFTUNFOUBEWJTPSZTFSWJDFTBOECSPLFSBHFTFSWJDFT*OWFTUNFOUBEWJTPSZTFSWJDFTBOECSPLFSBHF
TFSWJDFTBSFTFQBSBUFBOEEJTUJODU EJšFSJONBUFSJBMXBZTBOEBSFHPWFSOFECZEJšFSFOUMBXTBOETFQBSBUFBSSBOHFNFOUT*UJTJNQPSUBOUUIBUDMJFOUTVOEFSTUBOEUIFXBZTJOXIJDIXFDPOEVDU
CVTJOFTTBOEUIBUUIFZDBSFGVMMZSFBEUIFBHSFFNFOUTBOEEJTDMPTVSFTUIBUXFQSPWJEFUPUIFNBCPVUUIFQSPEVDUTPSTFSWJDFTXFPšFS'PSNPSFJOGPSNBUJPOWJTJUPVSXFCTJUFBUubs.com/work-
ingwithush6#4"MMSJHIUTSFTFSWFE6#4'JOBODJBM4FSWJDFT*ODJTBTVCTJEJBSZPG6#4"(.FNCFS'*/3"4*1$ $+6#4

jn

October 18 • 2018

27

