48. Zed Francis - Will credit markets be tight or illiquid in 2023?
Mutiny Investing Podcast
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Pensions
The hidden forces of underlying markets tend to correct things more than people can. So it was always interesting to me that everybody was really upset about the unfunded pensions and like you're saying now they're overfunded. And all it took was, you know, rates coming back up and a little bit of a protracted recession in 2022 to make that happen. The problem is you may be able to call that, but then the timing is difficult, right?
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