You can listen to a professional narration of this article below: This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my thoughts into short sentences. I summarized some 50,000 words into about 1,000 (a compression ratio of 50 to 1!).
Don’t shy away from your 50,000 word letters, they have great value and give the reader a deeper understanding. Although I can appreciate your efforts to accommodate those that don’t have the time or patience to read.
The Stock Market, The Economy, Possible Outcomes, How to Invest
Thanks for sharing.
"Don’t be afraid of cash (short-term bonds)"
+1 - until this weekend, 6-month T-bills were yielding >5%
"An outcome I did not think of."
Inflation becomes embedded despite contined Fed rate hikes & QT. Fed eventually admits 2% inflation target is not practical. Bonds sell off and interest rates soar.
Don’t shy away from your 50,000 word letters, they have great value and give the reader a deeper understanding. Although I can appreciate your efforts to accommodate those that don’t have the time or patience to read.