1 Big Idea: Signs of a 2018 top are everywhere

1 Big Idea: Signs of a 2018 top are everywhere
Last night's weekly post got me thinking about the markers for the end of economic cycle top. It was the surge in M&A activity that did it for me. Take a look at this chart from Axios:

Source: Axios

Notice how pro-cyclical the data are. M&A activity is always pro-cyclical. And right now many key drivers are:

Companies' need to chase earnings growth through acquisition to bolster stock valuations after a long business cycle
Companies m...


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