Today’s letter revolves more around future growth given the end of an eventful year. We feature a piece that cleverly suggests for an acceleration in the US economy in 2020. From another article, we find a plausible argument that the frequency of recessions has reduced, partially attributed to more effective monetary policy. Perhaps the term ‘cycle’ may no longer be appropriate to explain the dynamics of an economy.
From a market’s perspective, we look at how this business cycle unpredictability translates into difficulties in predicting the stock market. We also feature an article which explains how the cash pile of PE firms work differently from other investment vehicles.
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