As an investor, not an economist — the difference matters. My views don't stay on a blackboard. They go into real portfolios, real capital allocation.
None of us know the future. But the odds we'll look back at today's rates as "the good old days" just went up. Cost of capital matters. If you're building a portfolio for the next cycle, this is the environment you're pricing in now.
None of us know the future. But the odds we'll look back at today's rates as "the good old days" just went up. Cost of capital matters. If you're building a portfolio for the next cycle, this is the environment you're pricing in now.