Your portfolio has a new ruler

The first decade of my career in financial markets was defined by central banks. Whatever they did or didn’t do made stocks and bonds go up and down. To understand and predict what’d happen, you had to understand central banks and their monetary dynamics. This allowed me to predict the German housing bubble after the 2008 financial crisis, the inflation of 2021, the bond crash, two gold bull markets and plenty more. But the last few months have come as a surprising change to that paradigm.

https://daily.fattail.com.au/your-portfolio-has-a-new-ruler/20241122/