Inflation is one of the great economic debates and often leaves big economic thinkers at loggerheads. I am not a financial titan, but looking at the world from 100,000 feet, the conditions are in place for the world to see inflation heading meaningfully lower.

The banking sector is an integral part of the U.S. small-cap investment universe

For a long time, it has made no sense to keep money under your mattress or invested in cash-like instruments (short dated, fixed return) such as money market funds, without facing an inflation-adjusted loss.

My views on the economic and market implications of the banking turmoil.

Real estate downturns (defined as two consecutive quarters of falling prices) have been triggered in a number of economies including Canada, Australia, New Zealand and the Nordics. One area where this trend is playing out most rapidly is Sweden, where house prices are falling at one of the fastest rates in the world.

Uncertainty persists, but yield is back and fundamentals matter

"The world is heading into winter in more ways than one. As economic considerations increasingly take a backseat to social and political priorities in China, the flow of goods, capital, and ideas will likely become more and more constrained – perhaps ending a long summer of freer and more globalized trade and markets."

Headwinds diminishing and valuations now more attractive