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  "documentTitle": "AerCap Holdings (AER)",
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  "authorName": "David Einhorn",
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  "presentationDate": "2015-04-07 00:00:00",
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  "notes": "The slide uses a line chart to show stock market performance from 2007-2015 to argue against the efficacy of the wealth effect on GDP.",
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      "text": "The Fed expected the wealth effect would drive growth to 3-4%. Despite the stock market rising about 50% over the last three years and tripling over the last six, GDP growth has stagnated at around 2%.",
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      "text": "The Fed expected the wealth effect would drive growth to 3-4%. Despite the stock market rising about 50% over the last three years and tripling over the last six, GDP growth has stagnated at around 2%.",
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      "text": "Source: Bloomberg L.P. http://www.businessinsider.com/fed-gdp-forecast-2012-9 https://research.stlouisfed.org/fred2/series/A191RO1Q156NBEA",
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      "text": "What wealth effect?",
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