Getting to tomorrow

Byron Wein of Blackstone has just released his latest monthly letter and as usual its good reading, he covers the markets, the US, Japan and China, see below for a snippet and a link to the letter.

Everyone had made money in the stock market in 2013, although few had done as well as the Standard & Poor’s 500. People were generally positive about the outlook for 2014 and there was a background of complacency. When these conditions prevail, something always comes along to shake confidence. It is just hard to see what it is going to be in advance.

Source: Blackstone

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