Nick Griffin, CIO of Munro Partners, writes for Livewire Markets:
When I look back on 2019, I think the big lesson we learned and the big lesson all equity investors should learn is that interest rates really, really matter. 2019 was a year of very weak economic growth, it was a year of large earnings downgrades across the market, it was a year of a lot of political uncertainty, and then we also had the trade war layered on top of that. Yet, the moves that the Federal Reserve did earlier in the year to lower the risk free rate ultimately supported markets throughout the year.
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