By Richard Brink and Walt Czaicki
These are tricky days for the global economy. As growth downshifts and corporate earnings weaken, some investors are dusting off playbooks for late-cycle investing. That makes sense, but there are a few twists to today's market conditions that may require new responses.
For more than a decade, the global economy has trudged forward in a steady recovery from a near-apocalyptic crisis. Macroeconomic growth patterns are typically seen as a cycle, in which periods of rapid expansion are followed by periods of stagnation that culminate in recession. Today's environment feels