The Tactical Edge Podcast with Raj Bhuyan takes a step “off script” in this special listener Q&A episode, tackling some of the biggest questions raised by earlier shows. From what’s really real when we talk about inflation to how money supply, policy choices, and index construction shape long-term outcomes, Raj pulls back the curtain on the mechanics behind the numbers investors see every day.

In this episode, Raj explains why he prefers pre-1983 inflation definitions, how CPI has evolved, and why those changes matter for anyone relying on bonds, cash, or “safe” yield in a world of aggressive monetary and fiscal expansion. He also introduces the Tactical Wealth Management team and walks through how macro views, technical signals, and disciplined process come together—from big-picture calls like bonds vs. gold to day-to-day positioning.

The conversation then turns to concentration risk and cap-weighted indices, the gap between U.S. equities and emerging markets, and whether we may be approaching a major rotation in global leadership. Raj closes with a cliffhanger, setting up the next episode where CIO Marty Ruether will provide a comprehensive technical roadmap for markets into 2026 and beyond.

Topics Covered:

• “What is real?”—making sense of inflation, money, and purchasing power
• Quantity Theory vs. the “inflation gap” approach (Keynes)
• How CPI changed after 1983 and why housing/owner’s equivalent rent matters
• Money supply, policy incentives, and the hidden cost of financial repression
• Bonds vs. gold: macro thesis, timing, and relational price signals
• How the Tactical Wealth Management team blends macro, technicals, and sentiment
• Cap-weighted index concentration and the risk inside “diversified” portfolios
• U.S. vs. emerging markets: leadership cycles and potential regime shifts
• Why investors may feel worse than markets look on paper

Disclaimer:
This content is for informational and educational purposes only and should not be considered financial advice. Please consult your advisor for guidance specific to your situation.