“Sleepwalking Toward a Precipice”: Our Observations and Outlook, Part 3 rounds out our Sleepwalking series for 2012.
This year’s multi-part discussion looks beyond debt and deleveraging (see 2011’s “The Age of Deleveraging”: Our Observations and Outlook), to assess the myriad influencers of growth, and thus market prospects going forward.
Part I of Sleepwalking Toward a Precipice focused on structural issues in the United States.
In Part II, we discussed structural problems in Europe and China, a variety of unknowns that could impact growth and markets going forward, and central bank rule.
In the final installment of the Sleepwalking series, we discuss secular bears, P/E compression, “accordion-shaped” markets, “renting reflation” and “essential essentials” as we lay out some of our recommendations.
We hope you enjoy and please email or call with any questions.
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