Andrew Smithers is a leading expert in financial economics and global asset allocation. His 45 years’ experience in investment includes 25 years at SG Warburg & Co where he ran the investment management division, and 20 years as head of his own investment consultancy, Smithers & Co, based in London. He is the coauthor of three books on international finance. His latest is Wall Street Revalued: Imperfect Markets and Inept Central Bankers. Smithers has helped to pioneer the application of academic analysis of financial economics to investment management. Smithers & Co’s work on valuing employee stock options led directly to changes in the way these are accounted, while its work on Japan has revolutionized the role given to demographics in investment analysis.