The War Markets Can't Price | Jared Dillian on the Regime Change Investors Miss
In this episode, Jared Dillian joins Excess Returns to break down why markets consistently misprice major regime shifts, geopolitical risks, and inflation shocks—and what that means for investors today. The conversation explores how changing correlations, Fed policy constraints, commodities, and portfolio construction are reshaping the investing playbook in 2026.
Jared Dillian Twitter
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Daily Dirt Nap
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Topics Covered
Why markets fail to price low-frequency, high-impact events like war and geopolitical shocks
The concept of regime…
The skinny
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