Ray Dalio is the founder and Chief Investment Officer of Bridgewater Associates, the world’s largest macro hedge fund with $150 billion in assets under management. His investment letters are treasures that are passed around the investment community and read with avid interest. The latest one (https://www.bridgewater.com/research-and-insights/why-in-the-world-would-you-own-bonds-when) came out on Monday, March 15, and it’s a Read More
View from Crystal Bay: Unofficially, Inflation is Back
Official inflation numbers are becoming more and more laughable every day: the Bureau of Labor Statistics (BLS) reports CPI below 2%. We will address the causes of the mismeasurement in a separate piece, but in the meantime, you can rest assured, you’re not going crazy, and your eyes are not lying to you. Inflation is Read More
Has Tech Peaked?
As the market sell off picks up steam, the technology sector is bearing the brunt. Meanwhile, other sectors are exhibiting significant strength. Investors would do well to remember history and the fact that equity sectors alternate in having their day in the sun. Much as fashion changes year to year, so do the stocks that Read More
View from Crystal Bay: I Thought You Said It’s Okay?
The covid-19 pandemic hit the US with full force one year ago. Our country was unprepared. Those who were in charge of US response failed dramatically in their jobs, and the same is true throughout most of the Western world. There is a wonderful account on Twitter called “Covid One Year Ago” (@YearCovid). It retweets Read More
From the Trading Desk: February Recap
To recap my previous post, Bitcoin hit a new all-time high price last weekend of over $58,000, however, it has fallen below $50,000 or more than 13% so far this week. The largest Bitcoin fund, Grayscale Bitcoin Trust (GBTC) has suffered more than the currency itself, losing over 20%. The fund closed below the value Read More