Inflationary_Cycles

The massive shift to index funds over the past 15 years or so drove the valuations of the largest index components to levels which guarantee poor returns going forward. Poor returns, in turn, will guarantee these inflows will turn to outflows and the virtuous cycle will become a vicious one.” Or as Nassim Taleb says, “We have been fragilizing the e

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"Ben Hunt’s canonical essay “Snip!” from 2019 is one of my favorite short reads of all time. It’s a prescient look at the seismic shifts that will occur as the cord that once connected taxes and spending is cut. Read the piece later, but for now just know that it outlines the enormous real and psychological impact of renouncing the most important m... See more

Inflation, Interest Rates, The War in Ukraine & Commodity Prices, Labor Markets and The Great Repricing