There are many lessons to be gleaned from the financial crisis of 2008, to be sure. I recently came across Bethany McLean's article "The Top Five Unlearned Lessons of the Financial Crisis," and while McLean highlights serious problems, it seems to me that her list doesn't go far enough.
According to Dan Fuss, CFA, there are always opportunities for those who do their analytical homework. At the CFA Institute Fixed-Income Management conference, he examined some of those opportunities in more detail.
While the stock market continues to hit new highs, many would still agree that this recovery isn’t being felt by everyone. However, here are four reasons to be more positive.
In this video, Jim Grant of "Grant's Interest Rate Observer" offers an economic history of the world, discusses the odds of a new financial crisis, and evaluates Puerto Rico as an investment opportunity.
There continue to be growing signs of a credit bubble manifesting around the globe. In the United States, it appears that credit quality is starting to slip as banks are becoming more friendly to lower credit borrows. In private equity, Blackstone sees an "epic" credit bubble. Real estate in China appears to be frothy. And, with the Federal Reserve presently unable to unwind easing, these bubbles could and should grow in magnitude materially.
Anthony Neoh, SC, former chief advisor to the China Securities Regulatory Commission and ex-chairman of the Hong Kong Securities and Futures Commission, discusses the progress and prospects of financial sector reforms and capital market liberalizations in China.
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