Jordi Visser

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Have you seen the double top inflation chart where I think it was in the seventies, you know, you get the big explosion, it comes down and then you basically get it reflaring right back up.

Yep.

Could we see that?

Could we see 9% inflation off of this?

2026.

Yeah.

Doubling of inflation this year, I think, would shock people.

And to your point about this market submission, it would catch a lot of people off sides.

What happens to private credit, private equity, kind of these other things that are not doing so hot already?

right so i want to bring all this uh full circle here you know we talk a lot about ai you got on uh perplexity and you used ai as a big uh big moment for us here where we're going to reference something you built which is you basically looked at the s p's return by cpi regime going from 1933 to 2026 and what you asked is if cpi is above or below 4 what was the annualized return of the s p

And so the data shows that when CPI is below 4%, the S&P 500 is compounded at 11% annualized.

When CPI is at or above 4%, then the market has actually lost money on an annualized basis and it's negative 1.19%.

So basically, high inflation has actually led to bad stock returns and vice versa.