Nominal economic measurements hide systemic abuse and structural imbalances in the economy that real measurements would reveal.

Political cycles that are too short (around 4 years in electoral systems) drive monetary and fiscal excess because elected officials seek reelection by printing and borrowing their way to positive economic performance during their term.

Asset allocation and portfolio construction require understanding that sometimes equities are cheap and sometimes expensive, and sometimes volatility is cheap and sometimes expensive, making it a cyclical game requiring constant rebalancing.

Despite restrictive monetary conditions, central banks find other mechanisms to inject liquidity into the system because they need that liquidity for stability.

Quadriga Asset Managers' strategy is to run mandates that deliver reliable, reactive convexity (protection that pays off during stress) both standalone and in combination with long equities.