International
Book Review: The Pillars of Finance
The Pillars of Finance: The Misalignment of Finance Theory and Investment Practice. By Guy Fraser-Sampson. Palgrave Macmillan, 2014; 260 pages Guy Fraser-Sampson’s new book argues Modern Portfolio Theory fails to
More emerging economies enter bond markets
Countries across Africa and Latin America have expressed a desire to begin or expand the sale of government bonds. Markets seem willing to take them up on their offer. Interest in the
Managing differences between diversifiable and systemic risk
A hierarchical risk management system is not the best way to go. It is costly and the benefits are insufficient. Diversification suggests a different approach. In a letter to JPMorgan
Three perspectives on falling oil prices
Russia, Saudi Arabia, and the US will feel the effects of oil prices in radically different ways. It would be logical to think that the emergence of ISIL would have
3 things to watch in emerging market currencies
The US dollar has been on a tear since July, and its effect are beginning to hit emerging markets. First there was the taper tantrum, then another, then another. Emerging markets
Argentina pushes for global debt restructuring mechanism
Argentina’s recent default has renewed interest in sovereign debt restructuring. And while developed countries still oppose the idea, placing it under the IMF may ease negotiations. Sovereign debt – the
Why do low risk premia persist despite global turmoil?
Low risk premia for emerging market assets are persistent. Yet, the world is awash with turmoil and uncertainty. How do we explain this seeming contradiction? The Bank of International Settlements (BIS)
Five types of Russian companies targeted by Western sanctions
This reference guide explains which Russian entities have been targeted by Western sanctions and analyzes the intended effects of these measures. The EU, US and a handful of other countries have imposed
Investors underestimating risk in emerging market stocks
Despite political turmoil, investors remain bullish on emerging market equities. Is this because of improved understanding of risk, or complete misunderstanding? When the ‘taper tantrum’ hit for a second time
Three things to know about the India-Australia uranium deal
The India-Australian uranium deal may help India address critical energy issues while enhancing its growing legitimacy as a nuclear power and shoring up Australia’s economic security. On Friday August 5,
