Volatility - The perfect asset class in 2006?

Hi chaps / chappesses,

With 2005 a very low year for volatility, what are your opinions on how volatilty can be considered as an asset class in its own right? What are your opinions on the recently launched volatility indices?

Would be very interested in hearing your thoughts

OptionsJourno

Thanks for your reply!

I'm referring typically to the ones launched by Eurex last year, not the VIX...