Lacy H. Hunt, the chief economist of HSBC Holdings, is often in the minority in his predictions. Just as often, it seems, he has been right.

In the early 1990s, while many of his counterparts predicted continued growth, he predicted a downturn in the economy. Before that, when others predicted a recession in the wake of the 1987 stock market crash, Mr. Hunt correctly predicted a period of 4% economic growth.

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