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Credit Cycles, Leverage, and Real Interest Rates

March 04, 2015

If our insights are correct, an obvious question that arises is who is going to benefit from the increase in leverage in the economy. One way to find out is to look at who outperformed during the previous levering cycles and who underperformed during the previous de-levering cycles.

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The ValueTiming™ strategy is based on the assumption that politicians and policymakers have particular views of the world, and that they will in general adopt policy measures that are consistent with these views.


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