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The Macro Sensitivity of Assets to Rising Short-Term Rates
The market is so dominated by quant investing that, you know, it creates these distortions, but it also creates these opportunities. I mean, one of the things that I've been looking at is biotech, okay? So biotech is down almost 50% from the highs, right? Which really doesn't make a lot of sense. And the biotech community is like, holy shit, what the hell is going on?"