There might be a great trade in bonds right now... and I'm going to reject it because it doesnt match my hypothesis. Governments keep running more debt. That debt gets paid for by debasing the currency, and your savings lose ground to it every year. That's the core of The Everything Code and it makes my job simple... own the assets that outperform debasement. The easy trades are the long-term secular trends in technology and crypto. A bond rally might even help my book through falling rates elsewhere. But a good trade that sits outside your hypothesis is still the wrong trade for you... This week's Journeyman is a recording of the workshop I ran earlier today on Real Vision all about my trading philosophy. As ever, please enjoy!