Portfolio value
$2,408.63
As of Sep. 29, 2026 at 4:00 p.m. ET
Episode 5
Does the Economy Really Need Inflation to Function?
Immutable historical snapshot. Values below are frozen as published.
Cash
$0.00
As of Sep. 29, 2026 at 4:00 p.m. ET
Cumulative contributions
$1,999.91
As of Sep. 29, 2026 at 4:00 p.m. ET
Investment P&L
+$408.72
As of Sep. 29, 2026 at 4:00 p.m. ET
Cumulative withdrawals
$0.00
As of Sep. 29, 2026 at 4:00 p.m. ET
Income received
$0.00
As of Sep. 29, 2026 at 4:00 p.m. ET
Holdings at snapshot
| Ticker | Shares | Price | Market value | Class |
|---|---|---|---|---|
| MSTR | 12.12 | $157.14 | $1,904.54 | common_equity |
| ASST | 13.7 | $29.00 | $397.30 | common_equity |
| MPJPY | 59 | $1.81 | $106.79 | adr_common_equity |
Benchmarks at snapshot
| Symbol | Label | Price | Units | Value |
|---|---|---|---|---|
| BTCUSD | Bitcoin | $83,555.25 | — | — |
| SPY | S&P 500 (SPY) | $765.61 | — | — |
| GLD | Gold (GLD) | $377.91 | — | — |
Notes
- Published the morning of September 30, 2026. Valuation uses the prior official close: September 29, 2026 at 4:00 p.m. Eastern ($2,408.63).
- Reconciled from published shares × stored closes: 12.12×$157.14 + 13.7×$29.00 + 59×$1.81.
- Investment P&L: +$408.72 (+20.44% vs net external contributions of $1,999.91).
- Known data issue: the automated close job stored the September 28 closes for MSTR, ASST, SPY, and GLD instead of the September 29 closes. At actual September 29 closes the portfolio would have been about $2,382.94. The stored official value is shown unchanged pending a correction to the close data.
- No new contributions, withdrawals, trades, dividends, or options income recorded through this close.
- Discusses whether economic growth requires a continuously rising price level — see the research note Is 2% Inflation Necessary for Economic Growth? at /learn/research/is-two-percent-inflation-necessary.
Transactions since preceding episode
| Timestamp | Category | Ticker | Amount | External |
|---|
As of Sep. 29, 2026 at 4:00 p.m. ET