Your FP/CM Newsletter – November2019
THE AGE OF “ABNORMALITY”
AARON COHEN, Ph.D., Partner, President, Portfolio Manager
Why have investors remained so skittish after the longest bull market in history? Why is it that, with the U.S. equity & bond markets at close to record levels, instead of declaring their optimism and exuberance, we find friends and investors feeling somber and concerned?
Even though investors should always be on the alert to avoid the “this time is different” syndrome, I am going to stick my neck out and argue that there really are several particularities in the current cycle – ones that are not just economic in nature, but are political and cultural as well.