Subject: Re: O/t, Bill Ackman this morning
"Nobody under age 60 has lived through materially high inflation in the US. Year-on-year headline CPI hasn't been over 6.3% since mid 1982, and you'd probably have to have been at least 19 years old to have noticed inflation numbers. I would imagine the great majority of global asset allocators are under age 60"

Agree. My 2c:

While neither is a 'global asset allocator', both of my two eldest sons are financially savvy on a micro scale, routinely paying close attention to student loans, house down payments, mortgage rates, Roth vs 401(k), etc. They're in their mid 30s; I'm 30 years older.

Double-digit inflation is a very real memory for me. But if I bring it up to these otherwise levelheaded, bright, reasonable, judicious men I get their best 'OK, Boomer' look, with them seeing that as relevant to their lives as would be horse-drawn transportation or local bank failures.

--sutton
remind me to tell you about my lumbago sometime