One month ago, we wrote that "For Crispin Odey This Is The Engame: Hedge Fund Billionaire Goes All In Betting On "Violent Unwind" Of QE Bubble" in which we noted that while "many financial commentators have warned that current monetary policy has inflated a bubble that will one day violently pop, few of them have risked money betting on the precise manner in which a chaotic unwinding of quantitative easing will play out through financial markets.
Along with most of his Wall Street peers, BofA's Chief Investment Strategist Michael Hartnett flipped his outlook on risk assets shortly after the election, turning from quietly bearish to vocally bullish and forecasting a substantial rise in US equities, and even more substantial bounce for Japanese, European and UK stocks as well as oil.
So far, Hartnett has been correct, and according to recent fund flows, much of the investing community agrees.
By Jeff Bailey
The diverse and dynamic financial sector in the U.S. is one of the crucial factors behind our entrepreneurial economy, and without it, we'd be a slower-growth and less-exciting economy.Like much of Europe is currently.
MUMBAI: By now, everyone's aware of the huge and growing stink over the lakhs of crores of non-performing loans that public sector banks find themselves saddled with -including the Rs 9,000 crore they are now trying to recover from Vijay Mallya. But what's bad odour for the Indian economy smells like flowers to one legendary American financier who's looking to do a win-win deal in this country.
It’s no surprise to Teresa Troy, chief executive at Halifax-based HRM Pension Fund that Sun Life has formed Sun Life Investment Management Inc. that will “bring Sun Life’s long-standing expertise in private asset classes and investment management to defined benefit pension plans and other institutional investors in Canada.”
In yet another victory for not bowing to the great-and-good of modern orthodoxy, Iceland has won a court ruling that enables it to repay billions of Euros (in failed bank deposits to the UK and Holland) on its own terms. Icesave collapsed in 2008 and left thousands of depositors, who had chased higher yielding deposits, with losses. The Dutch and British governments demanded prompt payment; Iceland denied, preferring (rationally) to repay what they could from the then-bankrupt entity.