Portfolio Manager Ben Kizemchuk: Stop using 20th century investment models in a 21st century market

In this conversation, Ben Kizemchuk and Pascal Hugli delve into the concept of fiscal dominance and its implications for the economy, exploring how government spending is becoming the primary driver of economic growth. They introduce the 'Four F's' framework—fiscal dominance, financial repression, passive flows, and fiat—as a way to understand the current economic regime. The discussion also covers the impact of passive investment flows on market dynamics, the relevance of gold and Bitcoin in this new landscape, and practical investment strategies for navigating these changes. The speakers emphasize the need for investors to adapt to a rapidly evolving economic environment, where traditional metrics may no longer apply, and where the relationship between time, labor, and money is fundamentally changing.

Chapters:
00:00 Intro
02:20 Fiscal Dominance: A Shift in Economic Paradigms
06:22 The Four F's: Understanding the New Economic Regime
24:21 Passive Flows: The New Market Dynamics
40:45 The Role of Gold and Bitcoin in the New Economy
51:18 Navigating the Future: Practical Investment Strategies

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#fiscaldominance, #economicgrowth, #passiveflows, #gold, #Bitcoin, #investmentstrategies, #postscarcity, #financialrepression, #AIeconomy, #wealthmanagement