Millennial Financial Intelligence
In 1924, a Wall Street analyst named Edgar Lawrence Smith sat down to prove something obvious. Bonds were safer than stocks. Everyone knew it. The smart money knew it. The textbooks said it. His job was simply to run the numbers and confirm what the financial establishment already believed. He couldn’t do it. What Smith …
Read moreStocks beat bonds. A man proved it in 1924. The bond market is relearning it now
The stock market keeps hitting new highs. AI companies are valued in the trillions. Everyone seems to be winning. So why are the world’s top risk analysts quietly getting nervous? The ten largest companies in the S&P 500 now account for roughly a third of the entire index by market value — higher than the …
Read moreAsset bubble burst: the risk everyone sees but nobody wants to say out loud
Your bank balance looks the same. The news says inflation is easing. So why does everything keep feeling more expensive? The answer is something called the Cantillon Effect — named after 18th-century economist Richard Cantillon. When central banks create new money through quantitative easing, bailouts, or stimulus programs, that money doesn’t reach everyone at once. …
Read moreWhy your savings are quietly disappearing — and nobody is talking about it
It’s been often explained that when banks make a loan, they are basically creating money. Many people still think that money is created backed with some type of asset that has value, but the reality is that the current financial environment we live on is very different. In fact, there’s really no limit on how …