Whitney Baker on Why "Immaculate Disinflation" is an Illusion

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Today’s returning guest is Whitney Baker, founder of Totem Macro and previously worked at shops like Bridgewater and Soros.
In today’s episode, Whitney shares where she sees opportunity in at a time when, as she says, “we’re going from “risk-on cubed” to “risk-off cubed”, starting from some of the highest valuations in history.”
She touches on why she believes inflation is here to stay, the opportunity she sees today in emerging markets, and the dangers of using heuristics learned since 2008 to analyze the current market environment.
To see links or read the transcript of the episode, visit us at:
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit www.acretrader.com/meb.

[@skotth2]

I think she's dead on with most of this. I recently saw a chart over the last 80 or 100 years in the US (Lyn Alden maybe? Going to have to go back and find it) that showed that whenever CPI exceeded 6% it took an average of 10+ years to get back to 2% and as someone who lived and worked through inflation in the Volker years, I don't believe for a minute that inflation will be beat in 2023. We might get down to 4% but trying to get below that last bit down to 2% will be a long term slog and 4% annual inflation long term is more problematic than you might think. Whitney is definitely on to something here. She's right. the mis-pricing in US assets is very real. P/Es of 12 or 15 is not the bottom of a bear. P/Es of 5 is the bottom of a bear (simplistic, I know, but you get the point).

[@whatgej]

This one was a banger

[@maytagrepairman]

Another great pick for Meb’s best of the year.

[@lowtech_1]

Argentina when you know inflation is serious . Convert your wages to bricks at the end of the week, if your building a house. Thanks Great content 😃

[@edreeves121]

Absolutely fabulous. Super intelligent, comprehensive knowledge, comforting voice, perfect pace, I shared to Facebook. Thank you.

[@cc23895]

itchy

[@kylebeaton5604]

So smart, Whitney baker will you marry me.