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A ten-year return forecast can end up being right but look spectacularly wrong several times on the way toward getting there.

The important thing to remember, as a market participant with something real on the line, is that the Ministers are usually just play-acting

Some ill charts

Ever since writing my Abundance post in February, I’ve been seeing echoes of it everywhere. I think they call this “synchronicity”, which is also the title of a great Police album. The basic notion I had was that malinvestment everywhere and non-profit seeking behavior on the part of well-financed businesses are doing a lot of…