On today's episode of "On the Margin", Bob Elliott CIO of Unlimited Funds joins the show to discuss everything happening in markets right now. Prior to founding Unlimited, Bob was a Senior Investment Executive at Bridgewater Associates where he served on the Investment Committee and created investment strategies, many of which were used in the flagship Pure Alpha fund. Having studied previous macroeconomic cycles, Bob states "this is a textbook inflationary cycle". Bob goes on to discuss the new higher rate environment we are in compared to the last decade, what it means for the economy and which assets will be perform best, or worst, in this environment. Finally, Bob takes his years of experience investing in private markets to explain how "the era of cheap money" will effect those private market valuations into 2023 and beyond. To hear all this and more, you'll have to tune in! -- Follow On The Margin: https://twitter.com/OnTheMarginPod Follow Bob: https://twitter.com/BobEUnlimited Follow Mike: https://twitter.com/MikeIppolito_ Follow Blockworks: https://twitter.com/blockworks_ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Circle’s USDC is one of the most trusted and widely used stablecoins in the digital asset industry. Check out their Transparency Hub at circle.com/transparency that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is. -- This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://onthemargin.link/curve, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply. -- Referenced In The Show: The Economic Organization of a P.O.W. Camp: http://icm.clsbe.lisboa.ucp.pt/docentes/url/jcn/ie2/0POWCamp.pdf -- Timestamps: (00:00) Introduction (05:08) The Economic Organization of a P.O.W. Camp (09:50) This Inflationary Cycle Is No Different Than Previous Cycles Throughout History (15:47) Circle Ad (17:07) Progressing Through The Tightening Cycle (23:31) Why Did The Fed Miss inflation? (29:48) The Role of 60/40 In 2022 (39:08) What Is Happening In Private Markets? (42:31) "The Era of Cheap Money Is Over" (50:50) Curve Ad (52:06) Investing In Venture Capital During A Bull Market (1:02:13) The FTX Fallout (1:10:57) What To Expect Into 2023 (1:16:30) Final Thoughts -- Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.