Inflation is transitory. Until it’s not. But then it’s gone, and the worst is over. Or is it? The markets are falling. Until they aren’t. They’re bouncing off the lows. Or are they? We’re in a recession. Maybe. The economic numbers are “mixed.” Most advisors recognize that trying to predict what the markets will do is a fool’s game. Nonetheless, probabilities must be weighed and decisions on portfolio allocations must be made. The trouble is measuring those probabilities seems to be getting harder. |