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A Deep Dive into Credit Investing with Joe Hegener

Excess Returns

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Analyzing the Importance of Bifurcating the Cyclical and Secular Horizon in Macro Analysis

They discuss the significance of differentiating between the long-term secular horizon and short-term cyclical horizon in macro analysis. They provide examples of how combining a positive secular horizon with a favorable cyclical horizon can lead to identifying investment opportunities. They emphasize the impact of factors like energy fluctuations and regulatory issues on the cyclical horizon.

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