Thierry from arvy đ¨đ
@ThierryBorgeat
CIO @ arvy | CFA | Quality stocks, market cycles & investor psychology, on fundamentals AND technicals | #IBDPartner#
689 Following 44.8K Followers
I'm speechless.
The 1970s belonged to commodities and were miserable for stocks in real terms.
The 1980s and 1990s belonged to financial assets.
The 2000s belonged to commodities again â the last supercycle. The 2010s, overwhelmingly, to the asset-light growth machine. Every switch felt permanent while you were inside it. Every one ended, and the baton passed.
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So it begins.
Anyway, buy the Dip!
WHAT IF the biggest bubble of our lifetime isn't crypto?
Not AI stocks.
Not real estate.
What if it's the one asset every pension fund, every retiree, every "safe" portfolio is loaded with?
Bonds.
200 years of rate cycles say the same thing:
Every peak lasts 56â67 years.
The 1981 top was 14% yields.
The 2020 bottom was 0%.
39 years of falling rates just ended.
What if we're now at the start of the next 50-year cycle â upward?
Most investors have never managed money in a rising rate world.
Their entire career happened inside the bull.
The unwind has barely started.
And no one is talking about it.
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