Here's my annual year end What's In What's Out for 2019. And most likely, the dog's end here.
1st...what's OUT ?: Anything and Everything that starts off with Priyanka and, or Nick. No clue who they are are or why everyday's news feed has them in it but it's time to hit reboot.
2. MMA - Ya ya, save your breath, I don't care. 15 stories a day about dudes and girls beating the crap out of each other says more about the present state of pent up anger and violence in America than interest in primitive sport.
3. Ex-Post tape reading posing as financial journalism.
What's IN ?
- Apolitical Radical Pragmatism. No one with a P/L can adhere to the ridiculous political rants spun as economic commentary spewing from the "traders" and "contributors" Brady Bunch Boxed on the screen everyday. Radical Pragmatism will be the growing 3rd party voice.
- A return to an Interest Rate Regime. We had believed for some time - with much assurance from the Pundocracy that we were wrong - that the difficult task for the Fed was navigating an exit under a hybrid-regime model. Part Quantitative/Part Interest Rate targeting. It remains my belief, you can be 1 or the other, not both. The past several month's craziziness supports our view. Simple Rule - when unacceptable inflation or deflation is evident, use a QE regime. When over, back out and return to IR Regime. The wrongheaded backing out will continue to cause issues.
- Direct communication. The pendulum will swing back from the "let's fill the bandwidth with garbage" social media cancer. And so, I too will do my part. Adios.