"Reframe portfolios for high-inflation regimes The speaker analyzed S&P 500 returns by CPI regime from 1933 to 2026 using AI tools and found a stark divide: when CPI is below 4%, the S&P compounds at 11% annualized; when CPI is at or above 4%, the market has actually lost money at negative 1.19% annualized. He argues that indexing to the S&P 500 is "locked into a low inflation basket" that "did well during a period from 2008 to now where it was about QE, low interest rates, low inflation" but that "we're in a new regime." Anyone still holding a standard index portfolio should audit whether their allocation was built for conditions that no longer exist. Source: Anonymous Guest Speaker, The Pomp Podcast, Market Macro & Bitcoin Discussion"