Andrew Dassori is the chief investment officer of Wavelength Capital Management, an independent alternative investment firm based in New York. Prior to founding Wavelength, Dassori was a portfolio manager at Credit Suisse focused on global macro investment strategies. While there he was also a member of the firm’s Global Citizens Program through which he worked at Equity Bank in Nairobi where he was responsible for a team building default risk models for microfinance loans, and represented the bank in meetings with the IMF, World Bank, and other economic policy institutions. Dassori received a BS from the London School of Economics.
If new disinflationary pressures are left unaccounted for, inflation, holding all else equal, will remain subdued, and the pace of rising rates will be slower than was expected by either the market or the Fed.
Increased capital flows to a space with low transparency and distinctly limited opportunities can be the classic setup for a bubble. In venture capital, this is magnified by the boom-or-bust nature of the companies themselves.