Economy

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Consumer net worth as percent of disposable income since 1992

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Frequency of market events since 1950

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10 worst market drawdowns since the 1960's

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Dollar FX rate strong negative correlation to EM since 1994

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PE fund analysis

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Public equity price multiples have compressed since peaking in February 2021

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Better-performing vintages have tended to deploy capital in lower-multiple and recessionary environments

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