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The Problem With Macro

On any given day 20 or 30 or 40 world-renown investment veterans argue eloquently for almost exactly opposing opinions regarding the future of interest rates and oil, global growth, the US consumer, the valuations of equities, or the future direction of high yield spreads.  Yet, every day an advisor’s sits with a client and starts his conversation with “our research team suggests that…. So we might want to sell or buy, this…


 

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