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Cash, Patience and the Apocalypse Trade
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Cash, Patience and the Apocalypse Trade
I’m watching one date on the calendar more closely than anything else right now: August 27–29, when Fed Chair Kevin Warsh delivers his first Jackson Hole address since taking over from Jerome Powell in May. A slight hint of hawkishness there could force a serious rethink for a lot of investors who, in my view, are still positioned for continuity — an accommodative Fed and an unbroken AI/data-center trade. It’s worth remembering that Warsh has al…
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