Richard Bernstein on Quantitative Analysis
Masters in Business
00:00
What Does the Pandemic Do to the Macro Economy?
The US economy was actually starting to slow and slow pretty dramatically. And so we- You'll curve inverted. With some definite expectations of a recession. Profits were slowing very dramatically. Employment growth was negative year on year. So we were calming down the risk in our portfolios, becoming more and more defensive. Obviously, when the pandemic hit, we did very well. Not that we saw the pandemic coming, but we saw the economy slowing. We ended up doing very well. A little bit of luck, I will readily admit on that one. Then coming out of the pandemic, we weren't sure what was going to happen. There's no playbook for a pandemic.
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