‘I’ll Take It’: Dan Loeb Got It Wrong, But It Didn’t Matter And Here’s Why…

If you've got a few minutes, it's worth going back and listening to Dan Loeb's comments on the Q2 call for Third Point Re. Needless to say, shorting this market hasn't been what one might call "easy" of late. The bane of bears' existence is DM central banks' seemingly unshakable belief in the by now thoroughly debunked notion that eventually, financial asset price inflation will "trickle down" to the real economy by way of the poorly-defined "wealth effect" that exists only in the minds of peo