China’s role in the credit crisis and the new world order
Was China responsible for the credit crisis? The author argues that although it didn’t directly cause the crisis, China played a vital role in creating low interest rates that encouraged over-borrowing and, ultimately, led to the crisis. This crisis also marks the emergence of a new world order where the shift in balance of financial...
An insider’s perspective of major financial disasters on Wall Street and why we should be prepared for more of them
Warren Buffett once calculated that it cost some $100 billion a year to keep Wall Street going. And that was before the obscene salaries and bonuses of 2007. But who pays this gigantic bill and what did Wall Street have to show for it? The bill is paid, of course, by...
Kenneth Fisher is one of the most successful portfolio managers. He is also among the most original thinkers. His investment ideas figure in each issue of Forbes and several fine books (almost all of them have been reviewed in this magazine). This is one of his earliest books, first published in 1984, which became a huge best-seller. It pioneered the idea of using price-to-sales ratio (PSR),...
