simon kennedy is our executive editor for economics.ow for some insight in 2019, to hindsight on 2018, one senior editor took stock about what the investing landscape was like this year with a visit to the imaginary hedge fund, hindsight capital. jason kelly and i talked with him about the speculative journey. >> hindsight capital llc is a hedge fund, which i've been visiting every year for the last 10 years, since before i arrived at bloomberg, which has the huge advantage that it invests with the benefit of hindsight's, i.e., it puts on the trades at the beginning of the year that you would put on if you have had perfect knowledge of how the year was going to work out. i put some limits on it, like obviously, if it was going to leverage up or go into individual stocks, then returns would be infinite every year. so the rules are that it can only go in relatively broad asset classes, no individual stocks or individual lawns, and it can't leverage up, and also, critically, it has to show that you did not need hindsight to make that trade

that did not deter simon kennedy case for 20a bowl -- bull case for 2019. he joins us now in london. let's first start, it is a pretty depressing environment. that is the psychology out there right now. simon: it is important to differentiate between bull and bear cases. if i could make market calls, i would be a rich man somewhere else. but this is not the core of the market. it is a case for the defense, the global economy. the market seems to be testing that case as we enter the new year. in some ways, the global economy is slowing. it is perhaps more cresting than slumping. there are some good points to make when arguing on our economy. it is looking fairly robust into the new year. carol: let's make the case. you point out in your story about the imf forecasting decent global growth. we haven't seen a lot of reduction in terms of growth estimates. have we? then: the imf is at 3.7%, third year in a row that we have had growth at that strength. the markets lately have been worried about what the federal reserve is going to do. the fed now signaling it mig

joining us to talk about the markets is simon kennedy.yields, i want to update our viewers about what is going on in markets. the markets are closed in the u.s.. european and asian stocks following the rout on wall street. this is on the fact that china seems to be delivering on these trade agreements they reached with america. dollar a little higher. let's get back to simon. in your world of economics, does the inverted yield curve change the path for the fed? >> there was some commentary in the two camps within the fed. one says it would be a big signal, others say there is so much going on that the yield curve is no longer necessary as it once was, no longer the recession indicator it was him a but as to the list of things they need to discuss later this month when they look at the outlook, which we now have jerome powell signaling the potential for a pause next year. the yield curve is a good market metric. francine: how will communication from the fed change? they are looking for data dependency and every meeting is live. >> i think

kennedy is at the service in guildford. this report would suggest that there was nothing he could have done. exactly, simon. they call a special bulletin. they get these things out very quickly after an accident to make sure other operators know what is going on and what the initial conclusions are. there seems to have been a mechanical disconnect between the pedals of the pilot, eric swaffer, and the tail rotor blade. it is not quite clear what caused that disconnect but this is there initial findings on this helicopter. it will help other investigators and the tea m help other investigators and the team itself to point the finger at the mechanicalfault team itself to point the finger at the mechanical fault that caused this rather, at the moment, than at the pilot. ten five mac was among five people to die in that accident in october. —— eric swaffer. also, izabela roza lechowicz, his partner in life, and the owner of leicester city football club, vichai srivaddhanaprabha, and two other people. that led to that huge outpouring of grief by leicester fa ns outpouring of grief by leicester fans at the stadiu