Bill Miller Sees Negative Bond Returns for 'Years to Come'

The video discusses the challenges and trends in the banking sector, particularly in light of a flattening yield curve and the end of a long bond bull market. It explores how investors use heuristics to navigate market cycles and the impact of economic factors like inflation and liquidity on banks. The discussion also covers investment strategies, including dividends and stock buybacks, and examines indicators of potential recessions, emphasizing the role of Fed policy in economic cycles.

What does the speaker predict about the future returns of bonds?

What are the potential risks for sectors like airlines and home builders in the next recession?