Investing in a Debasement Regime | Warren Pies
Warren Pies joins Excess Returns to discuss why he believes we’ve entered a “Debasement Regime,” what that means for investors, and how it differs from the post-GFC deflationary era. He explains the psychology behind this shift, how it’s changing market behavior, and what it means for asset allocation, gold, bonds, small caps, and the Federal Reserve. This conversation covers macro strategy, portfolio construction, and how investors can adapt to a world focused on protecting purchasing power rather than principal.
Main topics covered
• The shift from deflation to debasement and what defines…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.