Horizon Kinetics’ Q4 2021 Investor Letter

Horizon Kinetics LLC, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. In the letter, the fund mentioned that the type of inflationary environment we are very likely to have is the change-of-era type, which might one day be looked back upon as the shift from a multi-decade disinflationary period to a massive inflationary and purchasing-power-debasement period. The fund also shared a remarkable statement about how the financial markets might distract, harm, or help and some ways to prepare, to benefit, rather than fall victim. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.