Surveillance: Stagflation with Shah
Bloomberg Surveillance
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The Secular Bear Market and the US Equity Market
secular bear markets tend to last about 14 years and produce basically zero growth or negative real growth. A lot of that does come down to financial engineering and converting earnings into share buybacks, he says. "If that engine keeps going, then I think the bull market stays alive," But if a higher rate or a tighter Fed regime kind of slows down that train, there's a reason to think it could be otherwise." Next quickly, is a 60-40 portfolio going to work in a higher inflation environment with slower growth?
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