There's a Bull Market in Pessimism

Can the 2020s be a Golden Age instead?

Being Bearish Doesn’t Make You Smart

George Soros was the G.O.A.T (Greatest of All Time) but his protege, Stanley Druckenmiller, wasn’t bad either. He delivered spectacular returns throughout the 1980s and 1990s (+30% annually for a long time!). He always seemed to be early on emerging themes and crucially acted upon them in size. When things went wrong,…