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2min chapter
This Is a Hitchcock Horror
The Compound and Friends
Is the Fed Hyperware of Inflation?
The Fed is hyperware of this. And it's saying, listen, inflation is the ultimate book. You want them to do it quickly. And they're doing it. It's just, you know, we wish it would end, but it can't end yet. I remember reading Peter Lynch quote about that 79, 80 period of time where the PE is eight times earnings for the market. The average is 16. Shoulder P in 1982 was seven.
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