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An abundance of macro timing signals
At Crescat, we remain steadfast in our net short US and global equities position in our hedge funds. We are driven by our macro fundamental modeling and themes. Three historically extreme macro imbalances in global financial markets today pose significant risks to investors at large today, including: • Record US equity valuations; • Historic global debt-to-GDP; and an • Unprecedented China currency and credit bubble. The imbalances in and of themselves do not help with the timing of the financial market downturn and economic contraction that would correspond with their unwinding. The lopsidedness has existed ... (full story)