The opinion is virtually unanimous. Growth is accelerating. Inflationary pressures are on the rise. The U.S. Federal Reserve is going to raise interest rates twice if not three times next year after what was interpreted as a more hawkish tone from the Fed on Wednesday. Bonds along with dividend paying stocks are set to take a drubbing as a result. Troubling sentiments indeed for the more conservative investor. But history is rhyming once again. Beware the consensus, particularly when it’s laced with hubris. Be a contrarian.
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