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Circumstantial evidence of a US slowdown

This comment should be treated with a large grain of salt!

The reason you should care, but not too much about this "proof" of the slow down is that its circumstantial with a sample of TWO.  That's just not enough to get people excited.  Moreover, one of the two "example" was recently acquired -- which means that the pre-purchase performance was over-inflated and that reality is catching up.

The examples are as follows: (1) A Fintech (2) A law firm

The first (the subject of a recent acquisition -- all participants were private companies...), has seen, since the end of Q4/2018 a slow down in billing; both in terms of acquiring new clients but also getting new business from existing clients.  I should point out that this fintech is very exposed to the retail sector (via its clients).  they have seen, on average, a 25% reduction in billing from existing clients!  Heads rolled last week!

The second is a law firm, that is seeing a massive increase in its activity, but not from new clients, rather consolidation and redrafting agreements.  The comment I got was; its kind of strange our clients are asking that we review all contracts in place.  Moreover, a lot of the work revolves around getting their lines of credit fully sorted.

On a technical level you could also say that we're seeing a real "head and shoulder" market (up, pause, more up, pause, down, pause slight up, down (chartists would say that we are in the, slight up phase of the market correction...








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