"The Iran situation is just adding more fuel to the fire as global energy markets are facing their biggest crisis basically ever. The Fed's preferred inflation gauge has been above 2% for 18 in of the last 24 months. The narrative right now is saying that inflation was tamed, but the data is saying otherwise, and the new Fed chair is going to have a hard time trying to convince everybody that anything's actually different than that."

…If you saw the right risk you can position accordingly. Right now shit's crazy out there man. So of course the first risk the inflation problem. We have a commodity super cycle which is quietly forming in the background. You have energy, you have metals, you have agriculture all breaking out a multi-year basis. The Iran situation is just adding more fuel to the fire as global energy markets are facing their biggest crisis basically ever. The Fed's preferred inflation gauge has been above 2% for 18 in of the last 24 months. The narrative right now is saying that inflation was tamed, but the data is saying otherwise, and the new Fed chair is going to have a hard time trying to convince everybody that anything's actually different than that. Now, the second big risk, of course, is the liquidity situation. So, we are right now experiencing the largest equity supply shock since 2000. SpaceX OpenAI Anthropic Anderil Datab Bricks, all these big IPOs are coming. We know SpaceX is coming in about two weeks. Anthropic is filed for an IPO, so they're coming relatively soon. Combine just the t…