Stalin’s Pension Fund

Happy New Year!

I honestly can’t recall if I sent this piece or not, so if I did, well read it again!  It’s that good.

A quick chart and then the download…

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Download

What Happened to Inflation? And What Happens If It Comes Back? and Career Risk and Stalin’s Pension Fund: Investing in a World of Overpriced Assets

also here

Website

https://www.gmo.com

Good investing,
Meb Faber