FSD: Hope Springs Eternal

In this episode, we dive deep into the psychology of "The Slope of Hope" and the mechanics of "The Great De-grossing" currently sweeping through the markets. As asset prices face downward pressure and geopolitical tensions in the Middle East escalate, we explore why "hope" can be a dangerous emotion for an investor and how self-deception often leads to the biggest market losses. We break down the current deleveraging trend, the "consensus shift" at major institutions like BlackRock, and why even world-class businesses like Microsoft and Meta aren't immune to positioning risks. Learn how to navigate this hostile climate for risk appetite, the importance of "stacking your edges," and why waiting for facts on the ground is the only way to avoid holding the bag.

Episode 115 of the Lumida Wealth : Non-Consensus Invest Beyond the Ordinary podcast, hosted by Justin Guilder, titled "FSD: Hope Springs Eternal" was published on March 31, 2026 and runs 41 minutes.

March 31, 2026 ·41m · Lumida Wealth : Non-Consensus Invest Beyond the Ordinary

Summary

In this episode, we dive deep into the psychology of "The Slope of Hope" and the mechanics of "The Great De-grossing" currently sweeping through the markets. As asset prices face downward pressure and geopolitical tensions in the Middle East escalate, we explore why "hope" can be a dangerous emotion for an investor and how self-deception often leads to the biggest market losses. We break down the current deleveraging trend, the "consensus shift" at major institutions like BlackRock, and why even world-class businesses like Microsoft and Meta aren't immune to positioning risks. Learn how to navigate this hostile climate for risk appetite, the importance of "stacking your edges," and why waiting for facts on the ground is the only way to avoid holding the bag.