This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises All Stars episode 66 was recorded on October 7th, 2019.

I'm Eric Townsend.

Juliet DeClerc, founder of JDI Research, is back with us.

Juliet, you just released a new report entitled It's Break or Bounce Following the Bend.

Now I'm assuming that you're referring to the global economy.

Obviously, I understand that you're going to want to keep the bulk of your thoughts,

private for your clients, but can you give us at least a glimpse into your current thinking?

What are we looking for as far as the global economy is concerned?

Hi, Eric.

So it's always a pleasure to be back with you.

So I think it's fair to say that my tactically, pro-cyclical view has been challenged last

week.

We are finally receiving crystal clear evidence of a global slowdown in manufacturing, which

is also now spreading to some extent to the services sector.

Bear in mind though, this is a theme we have been effectively trading all year long.

So going forward, a successful investment process will necessitate to get the post-bend

right.

The slowdown itself is old news.

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