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Opening Statement from June 2014 Dividend Gems
First published on June 17, 2014 for subscribers to Dividend Gems

Over the past several years we have discussed that the IMF has had a tendency to deliver overly optimistic estimates for economic growth, whether we are talking about the United States, European Union, China or Brazil.

Consistent with this trend, the IMF’s recent downward revision for US economic growth in 2014 (from 2.8% to 2.0%) is more in line with our previous expectations.

Intelligent Investor subscribers will note that we previously stated that the IMF’s 2014 global growth estimates were also too high. Thus, by the time the IMF revises 2014 global growth, it will have most likely already been factored into the capital markets by the smart money.