Debate concentrates the mind. It is easy to dismiss opinions you disagree with from the privacy of your own living room. Debating articulate exponents of contrary views is another matter – even more so when the discussion takes place in front of a large audience. I found myself in the position of having to sharpen […]
I will be debating whether emotion or reason dictate the financial markets on the Free Thinking programme on BBC Radio 3 at 10pm this evening (subsequently available on the internet). The event was recorded at the recent City of London festival (see 7 July post).
This is the main text of my recent Fund Strategy cover story on behavioral finance. For a related box see below. Insights into investment behaviour sometimes come from unexpected directions. Daniel Kahneman, who won the Nobel prize for economics in 2002 for his work on behavioural finance, has described what for him was a eureka […]
This box was part of my recent Fund Strategy cover story on behavioural finance. Although behavioural finance owed much to modern psychology it also has other antecedents. Often they run parallel to discussions about irrational crowd behaviour. In the 1970s, at about the same time as Daniel Kahneman and Amos Tversky were starting to develop […]
This is my column for the July issue of Fund Strategy. Those who work in investment are more guilty than most of being too ready to accept the authority of numbers. Words can be doubted but numbers are often seen as virtually sacrosanct. Indeed, financial news often revolves around numbers. An index is down by […]
Given the unpopularity of those who work in financial services it was perhaps appropriate that there was a constant hissing sound in the background. Only this time around the source of the hissing, at least in the main, was a noisy air pump rather than the audience. The venue was the Bowler Hat – a […]
This is my book review from Friday’s Financial Times. Big Money: 2.5 Billion Dollars, One Suspicious Vehicle, and a Pimp – On the Trail of the Ultra-Rich Hijacking American Politics, by Kenneth P Vogel, PublicAffairs, 2014, RRP$27.99/£18.99 There is a tension at the heart of democratic politics that is hard to resolve. In the electoral sphere […]
The Financial Times has published two articles by me today. The first is a discussion of Oxfam’s claim that the world’s 85 richest individuals own as much wealth as the bottom half of the population. The second is a review of a book on campaign finance in America. You may need to register (free) to […]
The emergence of London as a centre for trading in the Chinese currency points to both the strengths and weaknesses of the British economy. It is certainly a coup for London that the Chinese authorities have agreed to launch direct trading between the renminbi and the pound on the capital’s foreign exchange market. This will build […]
Market reactions to the decision by the European Central Bank to reduce interest rates and introduce additional unconventional monetary measures can be broadly divided into two: those who welcomed the moves and those who welcomed them but said they were insufficient. Both sides misconstrue the nature of the eurozone’s economic problems and so cannot offer […]
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