The Week That Matters (23-27 Oct, 2023)

“Japan today reminds me of the 1960s and 1970s in the United States.” George R. Roberts, KKR, 2019.

Powell’s pivot might come too late

It’s not wise betting against the market in November and December of any year, especially if that year is the third year of an election cycle. There tends to be a dramatic seasonal effect. One of the only times in recent years the market hasn’t rallied hard into Christmas was in the autumn of 2018 (Northern Hemisphere).…