Are You Ready for the Periodic Inflection Point? Part 2

We discuss about the irreversible factors in global cycles and their drivers. We then discuss the risk aversion cycle and hedging, and how Bitcoin is becoming the Alpha of hedging assets. In Part 1, we discussed about cycles and their relation to the pendulum and positive/ negative feedback. We also introduced Howard Marks’ pendulum theory and Soros’ reflexivity theory. Lastly, we discussed the inevitable historical cycle of globalization and deglobalization. Irreversible Factors in Global Cycles “Reversibility” is the fundamental characteristic in cyclical phenomena. However, the development of the world is also steadily driven by another kind of irreversible force. Among…...