The perfect Market!
It is the tape, not macro!
I watched a show about macro today. The discussion was that the signal trumps everything!
The thing is macro was extremely unreliable 2021 until to today.
Absolutely nothing fit.
We had a reflation in the first and the second quarter 2021. Guess what, high beta trash got killed (have a look at ARKK!).
That should not happen in a reflation / goldilocks regim…
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