Co-produced with Beyond Saving and PendragonY
Introduction
It has been an interesting August, to put it mildly.
Data by YCharts
After the Federal Reserve cut the target rates by 25 bps, the general market has had several rough days. Heavily influenced by uncertainty over the trade war with China, presidential tweets, and the yield curve inverting (again), we have seen large gains and losses, sometimes within a single day.
We continue to believe that a recession is not imminent, but we do see signs of fear. While our common equity picks have experienced the wild