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Officials from the G20 – the group of twenty of the arguably most economically significant countries in the world – meet twice a year to discuss important global issues and to suggest possible policy responses.  For financial markets, these events are often observed but are typically of little consequence to investors; by the time governments get around to meeting and…

Two weeks ago I traveled to South Africa, in order to create a two-year economic and investment roadmap. After seven days of meetings, I returned with a bearish view for the economy both cyclically and structurally. Unlike previous visits over the past decade, I could find very few glimmers of hope. Gloom is hard to trade on, as the timeframe…

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