Epstein Secrets

ar-11 Nov-10 World 79% 38% Developed World 8,304, 70/0 Asia 88O/O 50% Central & Eastern Europe 75% 25% Latin America 60% 60% Source: Bridgewater Associates The Ides of March March 3 March 9 Irish Parliament recornenes with mandate to revisit EU/IMF bailout March 10 Moody's downgrades Spain to Aa2

going to be a smooth one. The global private sector still inhabits a world more affected by government policy than any other in the last 300 years. Michael Cembalest Chief Investment Officer I The new 5-year plan calls for a 7% growth target. Barry Eichengreen at Berkeley notes that the transition to slower grow

o put in their current forecasts. Most summarily dismissed our concerns that the recovery earlier this year had elements of a stimulus-driven mirage. Bridgewater Associates was the only firm we spoke to that consistently highlighted the broader process of household deleveraging; and cautioned that when stimulus faded, so

y among multinationals with strong balance sheets, high dividends and which trade at very low multiples, something we reviewed earlier in the week.” Michael Cembalest Chief Investment Officer The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Ce

o put in their current forecasts. Most summarily dismissed our concerns that the recovery earlier this year had elements of a stimulus-driven mirage. Bridgewater Associates was the only firm we spoke to that consistently highlighted the broader process of household deleveraging; and cautioned that when stimulus faded, so

y among multinationals with strong balance sheets, high dividends and which trade at very low multiples, something we reviewed earlier in the week.” Michael Cembalest Chief Investment Officer The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Ce

o put in their current forecasts. Most summarily dismissed our concerns that the recovery earlier this year had elements of a stimulus-driven mirage. Bridgewater Associates was the only firm we spoke to that consistently highlighted the broader process of household deleveraging; and cautioned that when stimulus faded, so

ly among multinationals with strong balance sheets, high dividends and which trade at very low multiples, something we reviewed earlier in the week." Michael Cembalest Chief Investment Officer The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cem