Friday, September 9, 2016

Climateer Line of the Day: Discounting the Apocalypse Edition

Today's winner of the prestigious CLoD is Peter Berezin of BCA Research who offers up:
"If the probability of doomsday is large, interest rates should be higher than they are today; if there are multiple versions of 'you' within a multiverse, you should prefer equities over bonds."
Yes indeedy, that's hard to argue with.

This metaphysical moment was brought to you by Bloomberg's Matt Levine in today's "Merchant Banks and Bond Lies".