The Year of Disappointment (EP.303)
Animal Spirits Podcast
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Universal Is the Tail Risk Hedging Fund
A lot of this money moving from deposits to money markets is just there was so much cash that was stored in those deposits anyway. Banks didn't have to compete based on yield. Why would you leave your money when you can get 4% to risk free or whatever the number is? Because most of the country has no idea still. And if they do, nah, screw it. All right. This is a great myth busting here. I love this kind of stuff. Justine Lee at Bloomberg talked about, universal is the tail risk hedging fund. They were overstating their returns basically. That'd be a mind-boggling return.
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