November 2011

Take 15: Rebalancing: What’s Next for the China Growth Story?

Michael Pettis reviews the growth track record of China over the past decades and discusses how rebalancing from an investment and export driven economy to a more consumption focused economy could take place going forward. He also discusses Renminbi internationalization and the impact that China’s rebalancing could have on Australia and similar commodity exporting countries. Read more

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Book Review: Models.Behaving.Badly

Models. Behaving. Badly: Why Confusing Illusion with Reality Can Lead to Disaster, on Wall Street and in Life

Emanuel Derman spent two decades at Goldman Sachs, making valuable contributions to financial modeling. Before that, as recounted in My Life as a Quant (John Wiley & Sons, 2004), he was a physicist. Today, Derman is the head of risk management at Prisma Capital Partners and directs Columbia University’s financial engineering program. He also devotes energy to combating the belief that security markets can be analyzed with the same mathematical precision as heavenly bodies and subatomic particles. Read more

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Take 15: How Are Asian Financial Institutions Impacted by Changing Accounting and Regulatory Regimes?

Yin Toa Lee, CFA, reviews the new global regulatory initiatives and changing accounting standards and their business impacts on Asian financial institutions. He discusses what board, management, and audit committees should be doing today to prepare for such significant changes, including issuing communications to the investor and analyst communities. Read more

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