One year ago today, we published Enter Multiflation—our framework for understanding a once-in-a-century rupture in the global economic order.
In the twelve months that followed publication, the thesis arrived in real-time: a tariff shock stunned both Wall Street and Main Street, persistent inflation co-existed with sharp deflation as AI began cutting large swaths through the economy and markets, the White House openly questioned the dollar’s reserve status, unprecedented fractures strain the “rules based economic order” including NATO, and even now a rapidly escalating crisis in the Middle East threatens to ignite an already fragile global supply chain and energy complex.
We are resending the essay today—on its anniversary—to ensure that all of our readers are on the same page, as our readership has grown significantly since then, and many of you are seeing this for the first time.
The old rules no longer apply, and investors who understand Multiflation will navigate the coming dislocations from a fundamentally stronger position than those who don’t.
Once you understand Multiflation, you are ready for the Multiflation Method: Investing In The Age of Multiflation.
Investing In The Age Of Multiflation
The investing rules have changed: the frameworks and strategies that succeeded for four decades are now failing amidst a structural collapse of the old socioeconomic order. Last month, we identified this new reality—Multiflation (explained here).
To understand how we arrived here, don’t miss The Sorcerer’s Apprentice & The Man Who Broke The Markets.
