Over the years, I have referenced the great Isaiah Berlin’s essay, “The Hedgehog and the Fox,” which examines the dynamic of knowing many things vis-à-vis knowing one really big thing. Our view at Chiron is the really big thing now clearly is the most valuable. My fundamental analysis: The world is pulling itself apart and the nature of the next era, the complexion of the new gameboard, is becoming evident. Bretton Woods II is dying before our eyes. As we discussed to kick off the year, diamond eyes were likely to be much more important than diamond hands. Many of the paradigms that have created the great bull run from 2009–2022 are under pressure and the world is unlikely to revert to its pre-COVID globalized form.
Q3 2022 3D Report: Sympathy for the devil
As the world shifts from globalization to regionalization, we examine and analyze how this shift will alter the investment backdrop.