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Economy

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Relative sizes of world stock markets, end-1899 vs start-2019

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S&P Valuation Level

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Private Sector Credit Creation, 12 Months

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Not All Bear Markets Lead To A Recession

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Relative Valuation (Value/Growth) US, International and Emerging Markets

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S&P 500 Round Trips after 20% Bear Markets From An All-Time High

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EM and DM currencies vs. USD

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Bank loans look attractive relative to high yield

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Rates stayed low post-WWII despite huge deficits

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Challenge of timing the market

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