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The China Syndrome

The China Syndrome The recent severe volatility in China’s share markets has raised questions among many investors about the causes of the fall and about the wider implications for the global economy and markets generally. The Shanghai Composite index, the mainland stock market barometer and one dominated overwhelmingly by retail investors, more than doubled in […]

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The Devil Wears Nada

The global fashion industry is fickle by nature, pushing and then pulling trends to keep hapless consumers forever turning over their wardrobes. Much of the financial services industry works the same way. Fashion designers, manufacturers and media operate by telling consumers what’s in vogue this year, thus artificially creating demand where none previously existed. What […]

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Future Testing

Much financial news purports to be about the future but is really just an account of the past. As a result, many investors project what has already happened onto an imagined future. There’s another way of framing this problem. It’s understandable that investors, with the help of a necessarily short-term-focused media, will tend to focus […]

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Avoiding Contagion

‘Contagion Spreads in Emerging Markets as Crises Grow’: That was a recent headline on Bloomberg, reflecting a spate of articles about a rocky start to the year in some developing economies. But haven’t we been here before? Emerging markets historically have delivered higher returns than the markets of rich world economies like the USA, the […]

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