Report Detail Summary

A New World Order, Part V: The Discount Factor

February 16, 2011

In the conclusion to our series on the New World Order, we see that the faster the world economy grows and the faster the emerging markets’ capital markets develop, the larger the increase in the real rate and the higher the expected equity appreciation. This is a bullish scenario for equities, but a quite bearish scenario for fixed income instruments.

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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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