Practical analysis for investment professionals

History & Geopolitics


Losing Money to Preserve Capitalism: Can We Afford to Continue Bailouts? (Part 1)

A major and ancient tenet of capitalism is the importance of losses to preserving the efficiency of markets. Yet modern banking system bailouts fly in the face of this perennial philosophy.

PIMCO Veteran Paul McCulley: A New Model for Understanding Geopolitical Crises

As a former portfolio manager, I know that practitioners often pay too much attention to the micro-level issues of individual securities and not enough attention to the broader macro-level context. Investors often reach for a microscope when they should… READ MORE ›

Jim O’Neill on China vs. Greece and the New “Growth 8”

Jim O’Neill, chairman of Goldman Sachs Asset Management and former chief economist of the investment bank, was this year’s keynote speaker at the UC RUSAL President’s Forum at the Hong Kong University of Science & Technology. He… READ MORE ›

European Sovereign Debt Crisis: Overview, Analysis, and Timeline of Major Events

Most commentators trace the beginning of the European sovereign debt crisis to 5 November 2009, when Greece revealed that its budget deficit was 12.7% of gross domestic product (GDP), more than twice what the country had previously disclosed. However, the real origins of the crisis can be traced to the very structures that govern Europe's institutions.

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.



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