believe that we are entering a very dangerous period in financial markets. As investors, we've all been conditioned to believe that markets always go up, that dips are always meant to be bought, and that when things don't work out, central banks are here to bail us out. But in a world where inflation is persistent and policymakers around the world have begun raising rates and contracting credit, continuing to bet on mean reversion could prove to be a deadly strategy for investors. My objective in this conversation is to give you a framework that you can use to navigate a world that is transitioning from one of insufficient demand to insufficient supply, from historically low volatility to rising uncertainty, and from easy money to hard choices. This is true not only for central bankers, but also for investors like you and me. Subscribers to our Super Nerd Tier can access the transcript to this episode as well as the Intelligence Report, which is the cliff notes to the Hidden Forces (2/43)
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