This episode is brought to you by Sarmaya Partners. Learn more about Sarmaya’s LENS ETF, their full data and comparison, including performance here:
https://sarmayaetf.com/
Jim Bianco of Bianco Research called the 2022 bond bear market and stayed bearish on bonds for six years. Now, for the first time since then, he’s constructive.
Jim explains why 5% yields aren’t punishing but normal: rates should roughly track nominal GDP growth, and he expects the U.S. economy to grow at 5–6% nominally. He makes the case that inflation is stuck at 3% because the era of cheap Chinese goods is over, and explains why oil is already effectively $200 a barrel once you count tanker costs and naval security in the Strait of Hormuz. He also covers why diesel shows up in the price of everything, and why Kevin Warsh scrapping forward guidance has left markets feeling around in the dark.
On credit, Jim explains why the blowout in CCC bonds, CoreWeave included, is a handful of problem kids in detention rather than a canary in the coal mine. On AI, he argues it’s 1997, not 2000, and that the bigger risk may be that AI works.
Follow Jim on X: @biancoresearch
Bianco Research: biancoadvisors.com
Jack Farley on X https://x.com/JackFarley96
Follow Monetary Matters on:
Apple Podcasts https://rb.gy/s5qfyh
Spotify https://rb.gy/x56dx5
YouTube https://rb.gy/dpwxez
Important Information
The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. This and other important information are contained in the prospectus, which may be obtained by following the links Prospectus and Summary Prospectus or by calling +1.215.330.4476. Please read the prospectus carefully before
investing.
There is no assurance that the fund will achieve its investment objective. The Fund may not be suitable for all investors. Investors should continue to review their investment objectives and risk tolerance periodically.
An investment in the Fund involves risk, including possible loss of principal. Exchange traded funds (ETFs) trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF’s net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the Fund, which should be considered carefully when making investment decisions. For a complete description of the Fund’s principal investment risks, please refer to the prospectus at https://sarmayaetf.com/
Metals and Mining Companies Risk. Metals and mining companies can be significantly affected by events relating to international political and economic developments, energy conservation, the success of exploration projects, commodity prices, tax and other government regulations. Investments in metals and mining companies may be speculative and may be subject to greater price volatility than investments in other types of companies.
Management Risk. The Fund is actively managed and may not meet its investment objective based on the Adviser’s, Sub-Adviser’s, or portfolio manager’s success or failure to implement investment strategies for the Fund.
Shares of the Fund Are Not FDIC Insured, May Lose Value, and Have No Bank Guarantee.
The Fund is distributed by PINE Distributors LLC. The Fund’s investment adviser is Empowered Funds, LLC, which is doing business as ETF Architect. Sarmaya Partners LLC serves as the Sub-Advisor to the Fund. PINE Distributors LLC is not affiliated with ETF Architect or Sarmaya Partners LLC.
Learn More about LENS Sarmaya ETF
https://sarmayaetf.com/
