The Trader 

Very little 2020 vision

The Trader

Normally, come November, I start receiving unsolicited (usually) large tomes (usually) written by an economist, analyst or sundry pundits. They eagerly lay out their stall of predictions for the coming year, focusing on ‘global macro’ – for which read: the US economy – specifically economic growth (GDP), often inflation (CPI), occasionally retail sales, and rarely real estate. For good measure, some throw in a snippet on Europe, specialists cover ‘emerging markets’ – where many still include China, today’s second-biggest economy. All these data points have little immediate predictive use or in gauging the outlook for your current or future investments.

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