Thursday, May 14, 2009
On 2nd derivatives, green shoots and inflection points
We don't do investment advice on this blog. But all the hopeful talk about green shoots has also provoked this nice Buiter comment. To turn bullish on the news of an inflection point after what may easily have been the world's sharpest inventory rundown in human history requires a foolhardy degree of optimism, given that the economic growth trajectory is no sinus curve - another inflection point may easily occur before we're actually coming across a turning point.