Latest / Pento Portfolio Strategies LLC
Reasons to Pull in Your Horns
October 13, 2026
There are credible reasons for investors to begin reducing risk in their portfolios.
1. The Fed just started the process of pricking the equity, credit, and real estate bubbles by raising the FFR and reducing the pace of balance sheet expansion. While Mr. Warsh seems to be serious about getting inflation back to 2%, he should be aware that the current increase in prices is only partially attributable to a loose monetary policy. Today’s rising prices are also due to the war in Iran, tariffs, and the debt-fueled AI spending spree. But raising the FFR a few basis points will do…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.