While participating in the asset orgy with all the other casino patrons, I’ve been building up a proportionally large position in cash equivalent SHV; boring old T-Bills. This allows the Fed to work for me as it hikes rates while mitigating/managing risk at the same time. One day scores of reformed substance abusers are going to come flying out of the casino into the likes of this cash equivalent along with gold, which will not be paying dividends like SHV, but will provide a whole other range of risk management services that are more important because they are off the grid (ya ya, I know… Bitcoin).
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