CSC 2 补充15-16 习题 42

你说对了一半equity cycle趋势领先于business cycle，但是只有短短几个月，如果你有原版教材的话，可以看一下第16章的14页，当equity cycle在expansion时，business cycle是end of trough，start into recovery and expansion phase. The bottom of the business cycle has been reached. Economy starts growing again, unemployment is falling and businesses are making profits. Increase common stock exposure, given that sustained economic growth generally allows stocks to do well.