George W Bush's memoirs Decision Points provide a fascinating and revealing insight into the thinking - or the lack of it - that helped inspire the former US president's decision-making during his eight years in the Oval Office.
Some thirty plus years ago I read a book entitled Man's Worldly Goods - The Story of The Wealth of Nations by Leo Huberman. Mr. Huberman was an avowed socialist and co-founder of The Monthly Review – a dyed in the wool lefty if there ever was one. My recollection is that his book was easy to read and an interesting history of how wealth was defined over time and through a number of different economic systems.
The mood ahead of the G20 summit in Korea is turning ugly. America's actions - especially its policy of deliberate dollar devaluation through quantitative easing - are looking increasingly irresponsible and even reckless to its creditors, some of whom are starting to snap.
Years ago, during the midst of the dotcom boom, I was sitting at breakfast at Buck’s, minding my own business and preparing for a meeting that I had later that morning. Buck’s is a restaurant in Woodside that is a popular hang with the venture set and was a veritable gathering place for everyone involved in tech ventures in the Silicon Valley. It still is.
The Federal Reserve’s policy of effectively shafting its international creditors by debasing the dollar through the mechanism of quantitative easing ain’t nothing if it ain’t controversial.
Alan Sloan is one of America’s most respected business and financial columnists; he is also a man who genuinely loves capitalism. So when Sloan starts suggesting US banks risk destroying the capitalist system with their cavalier disregard for the law, one really ought to sit up and take notice.
QFINANCE brings to you its top 5 financial news stories of the week, along with relevant QFINANCE articles and definitions to fill you in on background details. Stories this week include the erosion of Chinese tradition, a second round of quantitative easing, and interest rate rises in India and Australia.
With corporate balance sheets flush with cash, there has been a lot of talk recently about the potential for an M&A bonanza. This, of course, would provide opportunities for merger arbitrage hedge fund managers. Whether you consider their returns to be a fair compensation for long the successful completion of deals or the result of pure skill, research has shown that merger arb has produced positive returns over time.
Investment managers contemplating the mixed messages coming from US voters in America’s mid-term elections don’t know whether to breath a sigh of relief that the resulting political gridlock is going to make it tough for Democrats to launch new major (unfunded) policies or whether to bemoan the fact that the economy is in far too fragile a position to endure political paralysis.
recent article in the Financial Times’ asset management supplement spoke volumes about what's wrong with the industry it covers. The piece, "Bank-owned funds used as props", prompted FT Alphaville to run a parallel one headlined "Double agents in asset management".