BIL - The Fed And Money Printing

• The unique characteristics of the Covid pandemic recession may lead to a shorter cycle - both because of the unprecedented and intense stimulus, and because of unresolved issues that characterized the late stage of the previous cycle.
• Because the Fed is planning on being reactive, investors must be proactive. There is no evidence throughout history that policymakers can pivot policies to control inflation after purposefully creating it.
• Investors should not neglect tech as a theme, but they should look for more value-focused, smaller tech names, as well as some lower-multiple old-line tech leaders.

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