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Home > Capital Markets Viewpoints

Capital Markets Viewpoints

Viewpoints

QFINANCE viewpoints provide you with the distilled thoughts of finance leaders and experts, outlining their current thinking on the crucial issues and challenges facing finance managers, entrepreneurs and business executives. The contributions are drawn from an array of practitioners and thinkers from the world of finance and business.

  • A Not So Cheerful Future for LBOs
    by Jon Moulton
    Jon Moulton is Managing Partner of UK-based private equity firm Alchemy Partners, which has invested £2 billion of equity and specializes in dealing with troubled companies. Alchemy also has a £300 million European special opportunities fund investing in distressed debt. Moulton previously worked with Citicorp Venture Capital (now called CVC Capital Partners) in New York and London, Permira, and Apax. He has been a director of five public...
  • Asia: Future Perspectives
    by Jim Rogers
    Jim Rogers grew up in Alabama and started out in business, aged six, selling peanuts and soft drinks at baseball games. He was educated at Yale and Balliol College, Oxford. After he co-founded the Quantum fund in 1970, the fund surged by 4,200% over the next decade, while the Standard & Poor’s index rose by 47%. Having earned enough money to “retire” at the age of 37, Rogers has since worked as a professor of finance at Columbia University,...
  • Bringing Trust Back to Wall Street
    by Bill Hambrecht
    Bill Hambrecht believes that Obama should steer clear of knee-jerk regulatory responses and instead restore transparency, fairness, and trust into the capital markets through solutions including forcing all derivatives trading onto regulated exchanges. Hambrecht, 73, has been in the securities business since 1958. He co-founded the San Francisco-based investment bank Hambrecht & Quist in 1968. Noted for its focus on the technology sector, H&Q...
  • Forecasting the Credit Crunch and Future Market Prospects
    by Michael J. Panzner
    Michael J. Panzner is a 25-year veteran of the global stock, bond, and currency markets who has worked in New York and London for such leading companies as HSBC, Soros Funds, ABN Amro, Dresdner Bank, and J.P. Morgan Chase. He is the author of When Giants Fall: An Economic Roadmap for the End of the American Era (Wiley, 2009), Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Kaplan, 2007), and The New Laws of the...
  • Global Ambitions—China’s Big Banks
    by Sir John Stuttard
    This article was first published in Quantum magazine.September 2009 was a good month for China—and for its reputation as a global leader.At the United Nations Energy Summit in New York, President Hu Jintao told delegates that China will increase its efforts to improve energy efficiency and to curb the rise in CO2 emissions. He pledged to ensure that the increase in emissions would be less than the increase in economic growth and that China would...
  • New Dollar Area: The Makings of the Mess
    by Brian Reading
    Brian Reading 73, Director Lombard Street Research. First class honours, PPE, Wadham college, Oxford 1958. George Webb Medley Senior Prize. Nuffield College 1958–60.Lecturer, Christchurch, Oxford 1960–62. Adviser to the Governor, Bank of England 1962–64. Department of Economic Affairs 1964–66. Adviser to Edward Heath as Leader of the Opposition and then as Prime Minister, 1966-72. Economics Editor, The Economist 1972–77. Consultant to Dillon...
  • Only White Swans on the Road to Revulsion
    by James Montier
    James Montier, an expert in behavioral finance, argues that investors would have a greater chance of spotting the formation of bubbles if they could only brush up on their history and have a greater awareness of human psychology. Co-head of global strategy at Société Générale, Montier has been described as an “enfant terrible” by Frankfurter Allgemeine Zeitung, an “iconoclast” by the Financial Times, a “maverick” by the Sunday Times and “a...
  • Prophet of Instability
    by David Smith
    This article was first published in Quantum magazine.When, in December 2008, Bernie Madoff confessed to his sons that there was “absolutely nothing” left in his massive investment fund and that it had been “one big lie” and “a giant Ponzi scheme” from the start, the thoughts of many people turned to previous scandals revealed by a sudden change in the financial weather.In Madoff’s case, the exposure of the scandal was attributed to the sudden...
  • Risk Management at a Crossroads
    by Maureen J. Miskovic
    Maureen J. Miskovic believes that in the post-crash period risk managers of banks and financial institutions are going to step out of the back office and into front-line roles. Miskovic has been Executive Vice-President and Chief Risk Officer at Boston-based State Street since April 2008. In this capacity, she oversees a global team of more than 250 multidisciplinary enterprise risk professionals.Miskovic, born in the United Kingdom, is also a...
  • Shariah Law—Bringing a New Ethical Dimension to Banking
    by Amjid Ali
    Amjid Ali, senior manager, HSBC Amanah Global, believes that shariah finance is broadening its appeal and reach—both among Muslims and non-Muslims—as a result of the banking and financial crisis. Recognized as one of the most influential Muslims in the UK by the Muslim Power 100 Awards, Ali has 22 years of branch banking experience with Midland Bank and HSBC in the UK. In September 2003 he joined HSBC Amanah UK as senior business development...
  • Solutions to the Current Crisis
    by Jean-Claude Trichet
    Jean-Claude Trichet is an Inspecteur géné des Finances and Ingénieur civil des Mines. Between 1978 and 1998 he held numerous positions from Head of International Affairs and Director of the Treasury, to Governor of the Banque de France and Alternate Governor of the International Monetary Fund and the World Bank. He was also Chairman of the Monetary Policy Council of the Banque de France, a member of the Council of the European Monetary...
  • The Financial Crisis and the World’s Poor
    by Muhammad Yunus
    Professor Muhammad Yunus is the founder and Managing Director of Grameen Bank which provides micro-credit to millions of poor people in Bangladesh. In 2006 he was awarded the Nobel Peace Prize.Yunus pioneered microcredit, the innovative banking program that provides the poor—mainly women—with small loans they use to launch businesses and lift their families out of poverty. Yunus’s vision is the total eradication of poverty from the world. This...
  • The Problem with Derivatives, Quants, and Risk Management Today
    by Paul Wilmott
    Paul Wilmott is a financial consultant, specializing in derivatives, risk management and quantitative finance. He has worked with many leading US and European financial institutions. Paul studied mathematics at St Catherine’s College, Oxford, where he also received his DPhil. He founded the Diploma in Mathematical Finance at Oxford University and the journal Applied Mathematical Finance. He is the author of Paul Wilmott Introduces Quantitative...
  • What Models Do We Need for Risk Management?
    by Riccardo Rebonato
    Dr Riccardo Rebonato is Global Head of Market Risk and Global Head of Quantitative Analytics at RBS. He is a Visiting Lecturer at Oxford University (Mathematical Finance) and Adjunct Professor at Imperial College (Tanaka Business School). He sits on the Board of Directors of ISDA and on the Board of Trustees for GARP. He is an Editor for the International Journal of Theoretical and Applied Finance, for Applied Mathematical Finance, for the...

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