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Economic Slowdown Coming - Even for the Fatcats

Do they hear the sound of the air hissing out of the economy?

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Now of course, the short answer is simple: it’s the momentum, stupid. Many fundamentally-oriented investors have been licking their wounds. And the nature of momentum-driven investing is that it can work longer than more sober-minded souls would think possible. When this disconnect ends is anyone’s guess. But markets like this suggest that even more caution than usual is warranted.


Yves Smith is the founder of Naked Capitalism and the author of "ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism."