Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
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Friday, September 6, 2013
World econ resumes growth. At last!
By slashing government expenditure and raising taxes, Europe manged to push its economy back into deep recession. But that folly is now past.
My take on it is that growth will increase form here, for now.
[See also yesterday's piece, Fiscal Folly]