Ep. 155: Lindsay Politi on the Silicon Valley Bank Fall-Out, Duration Bubbles and Inflation 

Lindsay Politi is Head of Inflation Strategies at One River Asset Management. Lindsay began her career at Wellington Management in Boston where she was head of Global Inflation-linked Investments. In that role she was one of the top TIPS managers by assets, managing over $10 billion in dedicated assets, with a top quintile track record for excess in her peer group. She then joined Tudor Investment Corporation in Greenwich as a discretionary macro investor, translating her inflation strategy onto a macro hedge fund platform. She then joined One River Asset Management in 2018. In this podcast we discuss: 

• Reframing the bank crisis as a duration bubble 
• Current crisis is more about liquidity than credit 
• How inflation distorts time 
• Current difference to 1970s inflation – QE 
• Parallels of current bank crisis to UK LDI 
• Risk of resurgent inflation on falling rates 
• Why shelter prices are not falling faster 
• Trends in other inflation components 
• The component most linked to wages 
• Cost of living adjustments to social security 
• Favourite trades 
• TV shows mentioned: Age of Easy Money (Frontline), Price of Time (Ed Chancellor) 

You can follow Lindsay here  and her firm’s research here.  

Read the full transcript here. Or read our recent Deep Dive on equities as an inflation hedge.

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)