The Peter Pan Economy

The Week Ahead

January 2, 2018

By spring of 2018 the current expansion will be the second longest on record. And the only one that lasted longer bene ted from a longevity-induced productivity boom, compliments of the internet revolution.

So the consensus is that, by now, we must be way past the seventh inning stretch, and late-cycle investment philosophy should dominate asset allocation and sector/stock selection. But is this really the case? Should our investment decisions take into account how old the expansion is? Put differently, do expansions simply die of old age?

Read More…