This ain’t easy!

Despite ATH for the markets

This ain’t easy!

In March you couldn’t own growth, period.  Interest rates were shooting up and this meant discounted cash flows (DCF) would kill what growth is worth and, to boot, suddenly 1.8% yielding bonds were competing for dollars.  We all knew this made little sense.  We all knew no one is doing DCF’s and 1.8% isn’t really competitive with growth.…