An important history lesson for investors:
This is shaping up to be the worst economic downturn in history, according to many estimates. But history stretches much farther than most economic data series, which typically begin after World War II.
Jim Reid, strategist for Deutsche Bank, looked way back in a note entitled “800 Years of Large Economic Contractions,” which I find more interesting these days than binge-watching Netflix sagas about sociopaths who keep big cats.
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