- Markets are ultimately driven by one force: inflation or disinflation. In disinflation, growth stocks thrive, valuations stretch, and speculation takes over But in inflationary regimes, like today, that dynamic reverses. Multiples compress, growth gets hit hardest, and the “greater fool” cycle breaks down
- At the same time, inflation erodes cash and pushes capital toward real value. Hard assets — commodities, energy, tangible resources — begin to outperform because they preserve purchasing power while financial assets reprice lower
- Find out how to profit as financial assets deflate and hard assets take the lead
Speakers
Larry McDonald
Founder, The Bear Traps Report