Like many economists, I think timing the market is a pretty hopeless task. Buy-and-hold has been a reliable strategy for increasing wealth over the past several decades, so why waste a bunch of effort trying to predict something that, if markets are truly efficient, ought to be unpredictable? But once in a while I get a little antsy. Now is one of those times.
Looking forward into 2015, I see some worrying signs. It may seem odd to say that, with the world’s biggest economy having recently completed its best quarter since 2003. But the signs are there — and most …read more
Source: Foreign Policy
