Sometimes things don’t work out the way you would expect. Case in point: The Miami Heat.
After the picked up LeBron James and Chris Bosh to complement Dwyane Wade, everyone thought they would waltz to a championship. They still might, but they are off to a very slow start.
Sort of like QE…everyone thought it would lead to every lower FX rates for the dollar, a decline in US bond yields and a never-ending rise in commodities…Sometimes things don’t work out they way you’d expect.
It’s early days yet, but but the conventional wisdom of two weeks ago looks a little suspect today…