4min chapter

The Joe Walker Podcast cover image

What I Learned In 2020 - John Hempton

The Joe Walker Podcast

CHAPTER

The Importance of Monetary Policy in Micro Turns

Sufi Amir has a macro paper that explains what's going on in micro turns. He says there's a shortage of assets to invest in, and rich people tend to hold things as nominal assets. And so if you drill through the balance sheet of rich people, you actually find very large amounts of nominal assets underneath them. The hottest craze on Wall Street at the moment is the Special Purpose Acquisition Company.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode