Inflation Doesn't Solve All Problems & RIP Charlie Munger

The Higher Standard

Chris, Saied and Haroon are back and trying to read the economic tea leaves to help us all figure out what may or may not happen next. Inflation cooled in October, but that doesn’t mean we have officially “beaten it.” But, even the Fed’s Waller is out sounding confident that we have. There has been a strong pull back in consumer spending, which the boys think is really good news for the battle against inflation. The cost-of-living squeeze isn’t getting much better though. Don’t forget that inflation dropping to the target of 2% still means things are getting slowly more expensive. Even though all this is happening, cash hoarding investors are ready to invest in the market when the time is right. Lastly, the great Charlie Munger has left us and the boy are slightly devastated in their own, special comedic way. May he rest in peace.

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Resources:

Inflation continued to cool in October (Yahoo! Finance via Instagram)

Just How Bad Is the US Cost-of-Living Squeeze? We Did the Math (Bloomberg)

Consumers Pulled Back on Spending, Inflation Eased in October (Wall Street Journal)

Median New vs. Existing Home Sale Price (Kobeissi Letter via X)

Fed’s Waller expresses confidence that policy is in the right place to bring down inflation (CNBC)

Investors Are Hungry for Risk—and Holding Record Cash Sums (Wall Street Journal)

Charlie Munger, Who Helped Buffett Build Berkshire, Dies at 99 (Bloomberg)

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