Optimists have a tendency to hail the notion of boundlessness as well as the absence of limits. Unfortunately in reality, constraints and limits do exist – sometimes this is good and other times less so.
There are two broad themes impacting investors globally at present; hysteresis and uncertainty. Arguably there is a third background theme of financial repression, but if we focus on the two main themes of hysteresis and uncertainty and deal with the latter first.
Demographic Retirement Bomb
The dangers posed by ageing populations rank alongside climate change as one of the gravest challenges facing humankind. And the impact of the demographic time bomb will hit retirees especially hard.
Big Not So Beautiful
Big bucks, big bonuses, big margins, big deals, big egos… big is good on Wall Street.
Or so it used to be.