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DIY investor: Rethinking deflation

If we’re unlucky, one of the “words of 2015” is going to be deflation

By Andy Davis   March 2015


Well known investors usually say they ignore the macroeconomic backdrop because good companies can prosper whatever the conditions. I tend to agree: the link between the economy’s performance and stock markets is tenuous. However, I’ve found it harder than usual to ignore economic commentators recently—because I find their explanations of what’s been happening in big parts of the world economy so profoundly unhelpful, not to say misleading.

If we’re unlucky, one of the “words of 2015” is going to be deflation. The appearance of mild price declines…

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