Felix qui potuit rerum cognoscere causas
"Happy is he who knows the cause of things"
Virgil's famous phrase suggests the energy and gain from learning. It was something that stirred the heart of even an ancient Roman, yet it is hard for me to feel happy in the current investment environment.
I am having a hard time understanding the macro environment. I think I know the cause of the current slow recovery, excessive debt which needs to be worked off over time time. But I don't know what will be the effect of current policy. Is monetary policy working? I don't think so. Is there a fiscal policy that will increase aggregate demand? I don't think so. Is there a policy for growth and creating job? I don't know.
If I cannot answer those questions, it is hard to be a happy investor in the current environment.
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