Lyn Alden – The Macro Landscape & Bull Case for Real Assets | #434
Today’s guest is Lyn Alden, founder of Lyn Alden Investment Strategy one of my favorite macro thinkers. In today’s episode, Lyn gives an overview of how she sees the world today, starting with why the US today reminds her of the 1940’s. She touches on the state of inflation and US monetary policy and what her expectations are for the dollar from here. She shares why she’s bullish on value stocks and real assets, and why she’s closely watching European energy prices going forward.
Key Points
- Lynn Alden compares the current US economic situation to the 1940s rather than the 1970s, highlighting high inflation with low interest rates and a heavy debt burden reminiscent of wartime finance.
- She discusses the concept of financial repression, where savers and bondholders face challenges as debt is inflated away, suggesting that real assets, value stocks, and commodities typically perform better in such environments.
- Alden is monitoring the energy situation in Europe closely, as it presents divergent outcome possibilities that could significantly impact global markets.
Follow Lyn: Website; X; LinkedIn
Resources: Lyn’s June letter Free resources for historical data to play around with (Research Affiliates, Barclays, Professor Shiller, Professors French & Fama, Professor Damodaran) Choices for governments to manage the state of markets The stay rich portfolio The Price of Time by Edward Chancellor
Chapters
| 0:00 | |
| 1:18 | |
| 7:49 | |
| 15:38 | |
| 24:05 | |
| 33:30 | |
| 40:18 | |
| 51:27 | |
| 59:20 | |
| 1:00:23 |
Transcript
Loading transcript...