The Inversion of the Yield Curve Is a Classic Indicator That a Recession Is Not Very Far Behind

We agree with his short positioning on risk assets, even though he thinks that o, that story's been mostly played out. We actually think there's major risk in the s an p 500 and that it could literally fall by more than 50%. Valuations are far beyond any extreme we've ever seen before. And a, you know, we're still, were still playing it very cautious in terms of our equity allocation.