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The Holy Grail of Macro Investing | Eric Crittenden
Forward Guidance
How to Calculate Equity Risk Premiums
The NVIDIA at $400 is not something that that theory would expect when interest rates were from 0% to 5%. So now I would say that for us, it's really simple. We got the risk transfer premium on the futures portfolio and then we're collecting the equity market risk premium on half our money. The balance is going into a latter treasury bill portfolio and we're just getting the risk free rate of return, which I consider a premium over cash. There's three that we're harvesting. What's powerful is they work well together as a team, right? And when you pull them into one program and you use the same pool of capital to finance all three, there's magic happens
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