Featured Insights

Research and Publications

INSIGHTS
by Ed Peters
In Part 1, we examined the three drivers of inflation: (1) Increased demand, (2) decreased supply, and (3) increased money supply. We discussed their underlying causes and potential remedies. However, as we can see from historical examples, knowing the type of inflation we are facing is not always clear-cut, and high-inflation regime often last far longer than expected.
INSIGHTS
by Ed Peters
The COVID-19 pandemic has revived inflation fears. Measures of expected inflation began rising in early 2021, followed by measures of realized inflation. Yet, real inflation risk has not been an issue for a generation, and underlying causes of inflation have become reduced to a few simplistic ideas. In this paper, we will discuss the three main types of inflation and their causes. It is only through understanding the causes of inflation that we can determine an effective investment strategy.
INSIGHTS
by Ben Collins, PhD
Commodities are a very diverse asset class, and that diversification brings many expected benefits. Different sources of supply and demand across sectors allow exposure to unique avenues for inflation and global growth, and for active management, unique sources of alpha relative to stocks and bonds. However, the methodology used to construct even the simplest portfolio of commodities may fail to capture that intrinsic diversity.