Reckless monetary policy has produced the everything bubble and lead to hyper financialization of the economy. Malinvestment is the result:
Investors will be shocked by the extent of the coming deluge in bankruptcies as the cost of capital normalizes for narrative driven, valuation free, hot air balloons. Tiger Global and many other funds will close. $ARKK, rather than #oil, is likely to hit @CathieDWood $12 target.
Talk about a misallocation of resources. We have too much of this:
2020-21: How do you create a bubble? Inject $5trn stimulus and +25% M2 growth! Bored and locked down at home, US public bought everything and created a super bubble / stocks, RE, bitcoin, NFTs, specs, art, IPOs, etc. Public partied like it was 1999.
Investors got spoiled rotten.
But all good things come to an end. and the odds are this isnt just a mama/papa troll bear...no one knows for sure but feels like an early dot.com bust or a granddaddy bear.
If you need guidance in these difficult markets, below is my list of must follows on Twitter.This is only an initial attempt and am sure I will miss some names.I will update this list in a regular basis.These are some of the best minds in the business and they help me enormously.