Think the Bubble Popped? Wrong.

“People are always asking me where the outlook is good, but that’s the wrong question. The right question is: Where is the outlook most miserable?”

– John Templeton


Cliff Asness provides a few links that chronicle AQR’s updates on the value spread:

Source: AQR


Dan Rasmussen on risks to venture capital: “There are three ingredients to a financial crisis: consensus optimism, leverage and illiquidity. And private markets exhibit all three characteristics.” Link

Joachim Klement on the importance of an open mindLink

Binance has red flags everywhere. Link

Bloomberg has a great layout of what Wall Street expects in 2023. Link

With the CPI coming in at 7.7% in October, inflation may have eased slightly, but it’s still way beyond the Federal Reserve’s 2% target.

While farmland historically does not show much of a correlation with stocks or bonds, it has shown a positive correlation with inflation since 1969. Not only that—farmland shows a positive spread to inflation.1

As a real asset with a direct relationship with commodities and food prices, farmland tends to hold value and even appreciate when inflation climbs.1

Research from Nuveen, the $1.3 trillion investment manager of TIAA, has shown that adding 2-5% of a portfolio to farmland and/or timberland can improve a portfolio’s overall returns and at the same time reduce risk.2

AcreTrader makes it simple to invest in professionally reviewed farmland and timberland online. In the past couple of months they’ve reported on their first five fully realized deal cycles, and now have offering hitting the platform each week.

Visit to see if farmland could be the diversification your portfolio needs right now.

Shaan Puri, Sam Paar, & Andrew Wilkinson share their:– Best investment of the year– Worst investment of the year– Relationship Hack of the year– Unsexy business of the year– Wild predictions for 2023

From The Episode:“Never wrestle a pig. You’ll both get dirty but the pig will enjoy it.

Clear is the best-selling author of Atomic Habits, and joins Ryan Holiday to discuss practical ways to shift your internal narrative, how to begin and maintain productive habitual action, being flexible with your goals as you set and achieve them, and more.

Lenehan is the CEO of Four Corners Property Trust, a listed REIT.  He discusses the state of the real estate market, and the impact of post-COVID trends like lower office space utilization, more considerations around climate change,  and higher interest rates.

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