Anthony Pompliano

And then you move on.

Then there's the other one, which is just a cold.

that you can't get rid of.

And three weeks later, it's still there.

Submission is coming to the reality that you don't know when this is going to end, but you know something has changed.

And for me, I live in a world, and the market does too, it doesn't get recognized this way.

And for people that are watching that are just at home investors, when you hear the word regime shift, that is a structural change in a complex system.

The market is a complex system.

It involves credit.

It involves interest rates.

It involves inflation.

It involves economic growth, stagflation, productivity, whatever you want.

I think for the first time, institutions in this last week have finally come to the conclusion, and maybe it's because I've been negative now for a period of time and just saying, I think this is going to be a very challenging year.

And in particular, I think

It's going to be a very difficult year for covariance matrix, the relationships that have existed for a long time between bonds and stocks, bonds and inflation, inflation and oil and all these different things.

Well, we're at that point now where the damage is going on.

And at some point, and I wrote a paper on this for 22V, that when in the first Rocky, he's the underdog, but then he knocks out Apollo Creed in the first round.

He didn't win the fight.

but that said that it was going to be a long fight.

And I think that's what submission is.