Banking on the eurozone
Being widely hated is one thing, but being widely hated and poor is even worse. This fate almost befell Europe’s bankers earlier this summer. Share prices have soared in the past two months, so all the...
View ArticleThe Bank of Japan’s stretch target
Investors could hardly be more excited about the pressure on the Bank of Japan from new prime minister Shinzo Abe. Japanese equities have soared and the yen crumbled (until this week’s slight...
View ArticleIs the ECB losing the currency wars?
Today’s the deadline for European banks that want to repay early the emergency three-year loans from the European Central Bank. James Mackintosh, investment editor, consider the implications for the...
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Risk and loss, Cyprus edition
I have a lot of sympathy with the explosion of outrage both within Cyprus and internationally at the decision to default on tax depositors of its banks. It is just wrong that depositors, even large...
View ArticleCyprus upends bank capital structure
Cyprus has finally struck a €10bn deal to become the fifth country “rescued” by the rest of the eurozone, after Greece, Ireland, Portugal and a special loan for Spain. Almost a third of the 17...
View ArticleBob Merton’s interconnected world
Today’s Note video is with the MIT economist Bob Merton – famous both for winning a Nobel memorial prize for his part in drawing up the Black-Scholes options-pricing theory, and for his part at...
View ArticleBeyond Portugal
The fun part of the eurozone crisis, if there is one, is that you never know where to look. After the Cyprus crisis three months ago, the hunt was on for the next small peripheral country that would...
View ArticleAnother little China growl
Value investors are getting excited about emerging markets again after their terrible performance over the past few months. The problem, as Arjun Divecha, chairman of Boston’s GMO, says, is that mostly...
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John Reed on bank stocks
Maybe we should reinstate Glass-Steagall. Or maybe we should revisit the system of publicly quoted banks. That at least seems to be the implication of comments made to me by John Reed, who spent almost...
View ArticleLehman: how it looked five years ago
Lehman has, at last, been bankrupt for five years. I posted the last of the five-video series we put together for the anniversary here. This post is for those hardy few who have still not had enough of...
View ArticleDon’t bank on these shares
The new blog challenge: put these in order of how awful they’ve been since the euro was created: Greek banks Irish banks Spanish banks Italian banks French banks British banks German banks American...
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