When The Music Stops: Airlines, Gold, and Inflation Nirvana

Jared Dillian, founder of The Daily Dirtnap, joins Real Vision’s Jack Farley to break down how market sentiment is evolving, the pause of the re-opening trade, and the renewed vigor in speculative activity. Dillian puts the remarkable rise of Dogecoin alongside other high-flyers such as Tesla, SPACs, and GameStop, exploring how rising rates could unwind leverage and cause some of these trades to implode. Dillian then discusses why he decided to exit the airlines, an industry on which he was previously very constructive. Dillian evaluates other re-opening sectors such as commercial real estate and theme parks before explaining why he is doubling down on his inflation trades and gearing his holdings to an even higher level of inflation exposure such as gold, land, and food.