WINTER SAECULUM

Emil Mihalina, Ivan Krivicic and Tihomir Antunovic ()
Additional contact information
Emil Mihalina: Agram Koncern, Zagreb, Croatia
Ivan Krivicic: Agram Koncern, Zagreb, Croatia
Tihomir Antunovic: Agram Koncern, Zagreb, Croatia

UTMS Journal of Economics, 2017, vol. 8, issue 1, 39-52

Abstract: Accumulated imbalances in the economy and on the markets cause specific financial market dynamics that have formed characteristic patterns kept throughout long financial history. In 2008 Authors presented their expectations of key macroeconomic and selected asset class markets developments for period ahead based on Saeculum theory. Use of term Secular describes a specific valuation environment during prolonged period. If valuations as well as selected macro variables are considered as a tool for understanding business cycles then market cycles become much more obvious and easily understandable. Therefore over the long run, certain asset classes do better in terms of risk reward profile than others. Further on, there is no need for frequent portfolio rebalancing and timing of specific investment positions within a particular asset class market. Current stage in cycle development suggests a need for reassessment of trends and prevailing phenomena due to cyclical nture of long lasting Saeculums. Paper reviews developments in recognizable patterns of selected metrics in current Winter Saeculum dominated with prevailing forces of delivering, deflation and decrease in velocity of money

Keywords: asset allocation; portfolio rebalancing; asset class performance; market cycle; asset class bubbles (search for similar items in EconPapers)
JEL-codes: G11 G17 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://utmsjoe.mk/files/Vol.%208%20No.%201/UTMSJOE ... ivicic-Antunovic.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:utmsje:0197

Access Statistics for this article

UTMS Journal of Economics is currently edited by Prof. Ace Milenkovski, PhD

More articles in UTMS Journal of Economics from University of Tourism and Management, Skopje, Macedonia Contact information at EDIRC.
Bibliographic data for series maintained by Assistant Professor. Dejan Nakovski, PhD ().