The Recession is Over. Long Live the Recovery!

Don't fight the business cycle, a global trade and capex recovery, payrolls review and Treasury market struggles

Don’t Fight the Business Cycle

From late March, our guiding investing principal is that the markets are in the next business cycle rather than a recession. It occurred to us this week that over the span of even the most experienced market investors’ careers, the length of the average business cycle has extended from 3.8 years from World War II through th…

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