Practical analysis for investment professionals
17 June 2016

Weekend Reads for Global Investors: Fintech Bulls and Market Bears

Posted In: Weekend Reads

Inside the market, the news flow was not especially cheerful this week. After years on hiatus, George Soros seems poised for a comeback to the market. He apparently smells trouble, and it’s tried and true that you can make (or lose) money much faster in a bear market.

Compared to the venerable Warren Buffett, who is beloved by the investment community and the press, Soros tends to generate controversy with his every move. Josh Brown at The Reformed Broker put out a note cautioning readers against getting too excited.

I think a truly rational investor should evaluate all relevant information according to the same set of objective criteria. But, of course, where do you find these truly rational investors? I know I am not one. And I wonder why Soros is sharing his views with us. Reflexivity at work, perhaps?

On a more somber note, we would like to take a moment to honor the victims of the awful tragedy in Orlando, Florida, on 12 June 2016. Obviously, such senseless horror, perhaps the deadliest mass shooting in US history, cannot be explained by the rational economic theory we live by. Joan Cook, a professor at Yale, tried to make sense of what motivates such unfathomable cruelty by exploring the psychology of hate. We probably all spend much more time thinking about love. Hate, unfortunately, seems to be much tougher to understand and often leads to violence. And once someone starts down the path of hate, there are no easy escape routes. What the world needs is more tolerance. And that will take considerable effort from all of us.

There is no silver lining to this story. Though it was heartening to read that GoFundMe, a crowdfunding site, raised over $2 million for victims’ families this week. Of course, amid such great tragedy, that provides small comfort.

The Week

Investing

The Soft Side of Business

Emerging Markets

And Now for Some Reading Truly for Weekend . . .

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All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

Image credit: ©iStockphoto.com/temmuzcan

About the Author(s)
Larry Cao, CFA

Larry Cao, CFA, is director of content at CFA Institute, where he serves as a thought leader for Asia-focused content, events, and conferences. Previously, he served as senior client education and product communications manager for the Asia-Pacific region at HSBC. Cao also served as a fixed-income portfolio manager at the People’s Bank of China. He also worked at Munder Capital Management, where he managed US and international equity portfolios, and at Morningstar, where he developed financial planning solutions and managed asset allocation strategies for a global financial institution clientele. Cao was a visiting scholar at the MIT Sloan School of Management and holds an MBA from the University of Notre Dame.

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