When Julie Ros of Profit & Loss announced the closing of the publication, she listed all of the macroeconomic events that P&L had overcome over the years, including 9/11 and the financial crisis. This one they were not able to overcome, and so Ros decided to close up. After a discussion with Ros late on Friday, I decided it was not a macroeconomic event that caused P&L’s closing, but a mega-macroeconomic event.
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