Important to also read his commentary on how we are no longer in a declining rate environment. We are now in a raising rate environment that will likely last for 30 years. Everybody that was already an adult and dealt with rising rates the last time around is not around anymore or in a position not to care.

Everyone that poo pooed us talking about this and how people never learn from history are gonna get to learn the harsh lessons they failed to learn from others account.

Their is no free lunch leverage makes it look like there is but it simply can't happen.

Just a refresher from one of Karl's previous articles on the "crank of leverage".

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