With surging inflation, rising interest rates and war in Europe, global investors are facing an uncertain macro, geopolitical and market outlook. But some risks to financial markets and their stability may yet be known to investors. Just recently, a sudden liquidity crunch in the UK gilts market forced the Bank of England to intervene. What will be the next domino to fall? Despite this uncertainty, investors can protect their portfolios against tail risks while seizing opportunities across asset classes. In this session, Sushil Wadhwani and Cyrus Cottin discuss why investors should be thinking about “unknown unknowns” and consider strategies aiming to provide portfolios with downside protection in the event risk becomes reality.