Macro Voices MacroVoices #488 Lyn Alden: Run It Hot!
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Jul 10, 2025 
Lyn Alden, founder of an investment research firm, dives deep into why investors should adopt a 'run it hot' strategy in today's market. She highlights how fiscal policy is now shaping market outcomes more than monetary policy, suggesting that this backdrop can fuel equity market growth. Alden also explains the complexities of investing in Bitcoin against a regulatory landscape and discusses the relationships between oil, gold, and emerging opportunities in uranium. Get ready for some thought-provoking strategies!
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Fiscal Policy Dominates Now
- Fiscal policy currently holds more sway over markets than monetary policy.
- The government deficit's size, insensitive to interest rates, diminishes monetary policy's effectiveness.
Persistent Deficits Shape Markets
- Large structural deficits are unlikely to shrink soon due to demographic and political factors.
- Investors must prepare for persistent fiscal stimulus influencing market behavior.
Equities Outperform Bonds Now
- Bonds remain unattractive long-term, but the worst of their bear market is likely past.
- Equities, especially international and under-owned sectors, along with precious metals and Bitcoin, are favorable.
