Is It Too Late to Position for the Paradigm C Melt-Up? I had the great pleasure of piecing the global macro puzzle together with two of my favorite people: @menlobear and @LukeGromen. I’m a huge fan of theirs because they share our mission to create immense value for ALL investors – not just those who write the biggest checks, as is customary across global Wall Street. In today’s discussion, Luke, Adam, and I unpacked our deeply researched views on the economy and asset markets – most notably how US fiscal policy dynamics are currently perpetuating – or will perpetuate – proactively predictable responses from a monetary policy and geopolitical perspective. Spoiler alert: After both having called for the crash earlier this year, Luke shares my Fourth Turning-inspired Paradigm C view that we are in the early innings of an asset price melt up that is likely to leave valuation-sensitive investors in the dust. Yesterday’s valuation frameworks are irrelevant once the Rubicon has been crossed, and both Luke and I agree that it has.