"What I'm Smelling Just Don't Smell Right": Phil Bak

Today I’m happy to offer my readers the latest from my friend Phil Bak.

Today I’m happy to offer my readers the latest from my friend Phil Bak. Phil has appeared on my podcast and runs his own Substack called BakStak.

He specializes in ETFs but I also love his perspective on all things macro, markets — and more importantly, exactly how absolutely ass-backwards our entire financial world is. You can follow him on X here.

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i is an economicist

Math is beautiful. Math is provable. Math is certain.

Economics ain’t math. Where math is built on laws, economics is built in theories. Where mathematics truths last forever, economic truths last until the next S&P selloff. Math represents absolute truth, economics represents absolute opinion presented as truth.