The Markets Are Really Worried… And That’s A Good Thing
If the capital markets have taught us anything over the last 40 years, it is that when ever-present “worry” reaches extreme levels, we can actually worry a little bit less. And that’s where we find ourselves today. The mood of the nation, on so many dimensions that we have lost count, is extremely dour. Strangely --- although not really, as there is a non-intuitive logic to it --- these extreme pessimistic moments have historically been turning points for the capital markets.
July 21, 2022
