DB: No, We Are NOT In A Low Return World

Over the past few years, plenty of analysts have made the case that after the financial crisis, we’ve been stuck in a low return world. The introduction of stringent regulations, bank recapitalizations, austerity, political deadlock, a lack of business confidence and over-easy monetary policy have all been blamed for holding back returns and growth. However, according to a new research note from analysts at Deutsche Bank, while it may seem as if the world is stuck in a spiral of low returns, compared to history today’s rates and business performance metrics are not that abnormal. [klarman] Seth Klarman On The…