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3 reasons why everyone, Zuckerberg, me, and their dogs turn into idiots when rates are 0%
I have a concession. The 0% yield curve of 2020/2021 turned me into a financial imbecile temporarily. I guess a lot of you know the feeling. Large sudden returns, no whatsoever value of money in sight and high-fives all around the sectors I was employed in. It felt good. And even if I was probably one of the first strategists worldwide to call (and trade) the inflationary wave already during the early parts of 2021, I simply turned around on that view too early this year as I underestimated the QE driven animal spirit within myself and others. Someone sent me this meme a few months ago, and it is probably the most ... (full story)