The nice thing about being an investor is that markets are driven by forces that change all the time. However, there are different “market regimes” where a major narrative dominates market action. Over the last two decades of my career, markets have been dominated first by the narrative of technology companies revolutionising the world, then by the “jobless recovery” of the early 2000s and the “Great Moderation” a few years later. Suddenly in 2007, we all had to become experts in housing and mortgage markets as “sub-prime mortgages” blew up the world. Then it was back to central bankers and unconventional monetary policy, such as quantitative easing and “Operation Twist”, that created a “new normal”. Then came the European debt crisis and austerity which has been replaced in recent years with geopolitics and the rise of populism as a major narrative.
My 10 rules for forecasting
My 10 rules for forecasting
My 10 rules for forecasting
The nice thing about being an investor is that markets are driven by forces that change all the time. However, there are different “market regimes” where a major narrative dominates market action. Over the last two decades of my career, markets have been dominated first by the narrative of technology companies revolutionising the world, then by the “jobless recovery” of the early 2000s and the “Great Moderation” a few years later. Suddenly in 2007, we all had to become experts in housing and mortgage markets as “sub-prime mortgages” blew up the world. Then it was back to central bankers and unconventional monetary policy, such as quantitative easing and “Operation Twist”, that created a “new normal”. Then came the European debt crisis and austerity which has been replaced in recent years with geopolitics and the rise of populism as a major narrative.