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We Just Had An Incredible 2019; Here Are The Experts That Got It Totally Wrong

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31.12.2019

It has been almost impossible to lose money this year. Unless you happened to be long volatility, odds are you had a positive return. If you tracked an index, you had a spectacular year; the S&P returned nearly 30% and the Nasdaq almost 40%. These numbers are even more phenomenal when you factor in that the omnipresent theme of the year was hemming and hawing about the economy cratering due to the trade war, and experts and pundits making constant forecasts of a recession.

None of these worries have been correct, and if you gave them credence you missed out on exceptional returns. These erroneous prophecies were predicated on two pessimistic macro predictions: either there were calls for recession in the face of economic data that was consistently solid throughout the year. Or there was uncertainty that manifested in negativity surrounding U.S. and China trade negotiations.

But an economy that slows from 3% to 2% growth isn’t in a recession, and the negative-interest-rate global landscape corrupts the inverted yield curve that sparked much of the scare. And at this........

© The Street