I heard an interesting take from BNY’s Alicia Levine who underwrote my omission thesis (in this era missing out is far more costly than misinvesting) and pointed out the other side of the coin: inflation.

This is a very interesting and nuanced debate and as someone who continues to argue for supply side driven policy, it’s important to address this point. Supply side windows to leverage a paradigm shift open up occasionally. There’s indeed an inflation cost in the medium to long term if you lean into them to avoid the error of omission. This however is