“This is an environment where you have nowhere to hide.
“What you want to own there is just dollar cash at the end of the day and some protection on your risk assets, so some volatility, some VIX, and some dollar cash.
“I would argue we’re at the point where if inflation becomes sticky high, then policymakers are going to react in a non-linear fashion.
The Federal Reserve is expected to quicken the pace of rate hikes this year, which would be negative for high Beta sectors, like technology.