russellclark
russellclark
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russellclark

Macro
Commodity
Forex

Hedge fund manager - specialising in macro trends and short selling

291Posts
119Comments
13%Best ROI
joined

Joined on 18th December 2025

The gap between the yield on 10 year JGB and the S&P 500 dividend yield is the highest since the 1990s. Either its a bubble - or investors prefer the inflation hedging aspects of equities to sovereign bonds. Perhaps this changes when governments feel obliged to balance the books.

Worried about AI? As long as DRAM prices are rising, there seems little to worry about in my mind.