On today's episode of "On the Margin", Bob Elliott CIO of Unlimited Funds joins the show to discuss everything happening in markets right now. Prior to founding Unlimited, Bob was a Senior Investment Executive at Bridgewater Associates where he served on the Investment Committee and created investment strategies, many of which were used in the flagship Pure Alpha fund.
Having studied previous macroeconomic cycles, Bob states "this is a textbook inflationary cycle". Bob goes on to discuss the new higher rate environment we are in compared to the last decade, what it means for the economy and which assets will be perform best, or worst, in this environment.
Finally, Bob takes his years of experience investing in private markets to explain how "the era of cheap money" will effect those private market valuations into 2023 and beyond. To hear all this and more, you'll have to tune in!
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Referenced In The Show:
The Economic Organization of a P.O.W. Camp: http://icm.clsbe.lisboa.ucp.pt/docentes/url/jcn/ie2/0POWCamp.pdf
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Timestamps:
(00:00) Introduction
(05:08) The Economic Organization of a P.O.W. Camp
(09:50) This Inflationary Cycle Is No Different Than Previous Cycles Throughout History
(15:47) Circle Ad
(17:07) Progressing Through The Tightening Cycle
(23:31) Why Did The Fed Miss inflation?
(29:48) The Role of 60/40 In 2022
(39:08) What Is Happening In Private Markets?
(42:31) "The Era of Cheap Money Is Over"
(50:50) Curve Ad
(52:06) Investing In Venture Capital During A Bull Market
(1:02:13) The FTX Fallout
(1:10:57) What To Expect Into 2023
(1:16:30) Final Thoughts
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Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
