My economics isn't good enough to critique these things. Like cholesterol, there's good inflation and bad inflation.
What I do know is that the market is in a major funk on growth or spec stocks because it thinks inflation will force up the risk free rate of return thus making risk assets inherently riskier/more relatively expensive.
What I think I know is that no one invests in small caps for a 8% return on investment so risk assets may be in retreat but won't stay that way forever. In the meantime tech, bio and spec stocks are going to get hit while there's a flight to "value stocks".
Like all market cycles, it will pass. Just pays to be in the better one's until the market finds something new to worry about.
NYR Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
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