Via Credit Suisse:
We think we are entering the 2nd Phase of the Bull Market for risky assets given:
1) Global growth is bottoming out from the summer slowdown and is poised to move higher over the next few months;
2) The Fed policy regime is likely to be very accomodative for an extended period of time and
3) The eventual recovery in the services economy will add duration to economic growth beyond the typical short and violent Industrial Production bounce.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.