Kakistocracy * noun[ C or U ]UK /ˌkæk.ɪˈstɒk.rə.si/ US /ˌkæk.ɪˈstɑː.krə.si/ a government that is ruled by the least suitable, able, or experienced people in a state or country:

Global Equities have finally clawed back their total returns relative to Global Bonds and while there is no sign of the theoretical risk free rate approaching the true cost of capital anytime soon, investors accepting nominal inflation are looking at some new nominal assets to reset their portfolios. We think of them as the 5Cs

The US Media are struggling a bit with the significant reduction in Trump content in recent days. As noted back in 2016, his carefully curated character of “The Donald” would send, often outrageous, tweets at all hours of the day and the Media couldn’t get enough of them.

One lesson of proper risk management is that when something with a meaningful short term downside and a non zero probability of happening is dismissed out of hand, we should be wary. Such is the case right now with risk and uncertainty over the outcome of the US Election.

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” --- MARK TWAIN