Another one from my colleague Craig Newmark's excellent blog, Newmark's Door. This time it's on the plans of the CBOE to create stock specific volatility measures. Basically a VIX for individual stocks.
Sounds cool although it seems a little like a tool in search of an application. While overall market volatility is quite important because we can't diversify away market risk, individual stock volatility is less important in the context of a diversified portfolio.