euro
Austerity, mutualization, monetization, or some combination thereof? What path will Europe take?
Should a bank run in Italy ensue, could the euro fall apart?
Understanding client goals is the key to effective wealth management, according to Jean Brunel, CFA. In times of unexpected market chaos, that understanding becomes even more important.
Amid austerity and a weak economic recovery, the electoral gains made by anti-EU parties (nicknamed the "Eurosceptic earthquake") in the European Parliament elections in May have caused much speculation.
The route to recovery in Europe is so long that there will be plenty of growth opportunities to be captured by investors along the way, says David Kelly, CFA.
Kai A. Konrad’s work studying political economy and public economics has given him some unique insights into the ways that individuals and groups interact to achieve their desired objectives.
Portfolio manager Grant Williams used mathematical proofs to explain four key disconnects between financial markets and the global economy.
Thomas Mayer argues persuasively that Europe’s Economic and Monetary Union (EMU) could work if the member states would embrace a new EMU architecture. Even though all past monetary unions of sovereign states have failed, Mayer remains hopeful that the EMU can develop a more robust framework and contribute to the historical work of European unification.
Noted behavioralist and value investor James Montier addressed the prospect of investing in European stocks through the framework of his Seven Immutable Laws of Investing — a set of common sense, value-based principles that are too often violated by the typical investor.
Unsurprisingly, a major theme of the Fifth Annual CFA Institute European Investment Conference was the prospect for the euro. While speakers put forward different arguments, ultimately it seems the resolution must come from choices made about the political economy.