Recent stories
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The future of interest rates is more surprises
The return of inflation surprised central banks which until recently predicted rates would remain “lower for longer.” Economists and investors struggle to agree on what has changed or what will happen next. Those who assume current interest rates are normal may be in for a shock.24 Nov 2023 -
Japan has become a gold mine for value investors
Japanese stocks delivered negative returns for decades. Low debt, a cheap currency and a shift in corporate power to shareholders – egged on by the authorities – are changing the dynamic. The stock market’s recent strong run could last for years.
10 Nov 2023 -
China’s leaders speed towards Japanisation
The People’s Republic invests more than Japan did at the height of its 1980s asset bubble. China’s real estate is more overvalued, and its debt is higher. President Xi Jinping’s centralised rule and stifling of private enterprise increase the risk of Japanese-style lost decades.20 Oct 2023 -
Why an economic soft landing may prove elusive
13 Oct 2023 -
Central bankers face a balance sheet reckoning
26 May 2023 -
Private equity is being squeezed from all sides
12 May 2023 -
Digital “Chicago Plan” fixes many financial woes
28 Apr 2023 -
Western economies rediscover meaning of scarcity
27 Oct 2022 -
Investors need to learn to ride inflation cycle
23 Jun 2022 -
Central bankers forget the lessons of the 1970s
16 Jun 2022 -
How sanctions against Russia could backfire
26 May 2022 -
Emerging markets offer dubious investment appeal
12 May 2022 -
Chancellor: In praise of slack
7 Apr 2022 -
Chancellor: The battle for investment survival
31 Mar 2022 -
Chancellor: U.S. bull market can’t go on forever
24 Nov 2021 -
Chancellor: China’s economic miracle is ending
11 Nov 2021 -
Chancellor: Time to inflation-proof portfolios
21 Oct 2021 -
Chancellor: Bringing down the Red Curtain
4 Aug 2021 -
Chancellor: Robinhood is more sheriff than rebel
15 Jul 2021 -
Chancellor: Regulators will kill the SPAC frenzy
20 Apr 2021 -
Chancellor: Value investing’s day is coming soon
30 Mar 2021 -
Chancellor: Was I totally wrong about bitcoin?
12 Jan 2021 -
Chancellor: Inflation as the post-pandemic cure
25 Jun 2020 -
Chancellor: Economic Consequences of Mr. Johnson
16 Apr 2020 -
Chancellor: Coronavirus crash is inverted bubble
24 Mar 2020 -
Chancellor: A 300-year bubble worth remembering
12 Dec 2019 -
Review: Paul Volcker’s exemplary life
30 Nov 2018 -
Chancellor: Lehman’s easy money extends to China
17 Sep 2018 -
Chancellor: The carry trade that followed Lehman
14 Sep 2018 -
Chancellor: Zombies are Lehman’s dangerous spawn
11 Sep 2018 -
Review: The pitfalls of managing by measurement
16 Mar 2018 -
Chancellor: Carillion’s flaws are common to many
22 Jan 2018 -
Chancellor: Bitcoin will never be real money
9 Jan 2018 -
Review: The myth of Federal Reserve independence
20 Oct 2017 -
Chancellor: Zero-coupon bonds are not a joke
26 Aug 2016 -
Chancellor: Why I have voted for Brexit
16 Jun 2016 -
Chancellor: Oil prices don’t need a Doha to rise
22 Apr 2016 -
Chancellor: Lessons from the Mississippi Bubble
23 Mar 2016 -
Chancellor: Best cure for low oil is low prices
21 Jan 2016 -
The Devil’s Dictionary of Post-Crisis Finance
16 Oct 2015 -
Review: The virtual bubble of bitcoin
15 May 2015 -
Review: Some of what is wrong with economics
17 Apr 2015 -
Review: What the Great Depression taught the Fed
30 Jan 2015 -
Review: Trade can bring war
9 Jan 2015 -
Review: "Forgotten Depression" worth remembering
12 Dec 2014 -
Review: The secret cause of economic crises
7 Nov 2014 -
Review: The worst of both Mao and markets
17 Oct 2014 -
Inefficient Market: Blackstone Letter
14 Jun 2007 -
Ponzi nation
8 Feb 2007 -
Inefficient market: The Perils of Tanzi finance
19 Feb 2004 -
How should companies return surplus capital?
8 Nov 2002 -
SEC needs poacher turned gamekeeper
7 Nov 2002 -
SEC needs poacher turned gamekeeper
7 Nov 2002 -
Inefficient Market: Behavioural finance
24 Oct 2002 -
Inefficient Market: Myopic risk aversion
26 Sep 2002 -
Inefficient Market: The case for gold
12 Sep 2002 -
Inefficient Market: A taxing problem
27 Aug 2002 -
Inefficient Market: Deluded investors
25 Jul 2002 -
Inefficient Market: Self-fulfilling prophecies
11 Jul 2002 -
Inefficient Market: Betting the house
13 Jun 2002 -
The Inefficient Market: Intelligence failures
29 May 2002 -
Inefficient market: Beyond shareholder value
28 Mar 2002 -
The buyback bull market
1 Mar 2002 -
Inefficient market: Buybacks
28 Feb 2002 -
Inefficient Market: Survival of the least fit
11 Feb 2002 -
Inefficient Market: A dot.con?
1 Feb 2002 -
Inefficient Market: Future imperfect
24 Jan 2002 -
Inefficient Market: Conflicted capitalism
17 Jan 2002 -
The Inefficient Market: The Compound Illusion
10 Jan 2002 -
US shares remain risky.
27 Dec 2001 -
Peering over the hedge
13 Dec 2001 -
Inefficient Market: Misinforming Mr. Market
13 Dec 2001 -
Short the strategists!
6 Dec 2001 -
Inefficient Market: Enron’s bezzle
6 Dec 2001 -
The Last Resort
30 Nov 2001 -
Inefficient Market: Money Illusion
29 Nov 2001 -
Hedging the hedge funds
22 Nov 2001 -
Sore losers
9 Nov 2001 -
The Inefficient Market: Beware the rocks
8 Nov 2001 -
Finking man’s investment
8 Nov 2001 -
Gentlemen prefer bonds
7 Nov 2001 -
Slicing hedge fund cake
2 Nov 2001 -
Short on information
25 Oct 2001 -
Inefficient Market: The great dividend theft
25 Oct 2001 -
Howard’s end
18 Oct 2001 -
Living on borrowed time
12 Oct 2001 -
Paradox of thrift
5 Oct 2001 -
The Inefficient Market: Uncertainty
4 Oct 2001 -
Wishful thinking
1 Oct 2001 -
Kitchen sinking
20 Sep 2001 -
Inefficient Market: A risky safe haven
19 Sep 2001 -
No option
14 Sep 2001 -
The Inefficient Market: Turn down the volume
11 Sep 2001 -
Holes in the Swiss cheese?
6 Sep 2001 -
The Inefficient Market: Bottom’s up
4 Sep 2001 -
The last shoe to drop
3 Sep 2001 -
Inefficient Market: In praise of short-selling
20 Aug 2001 -
The Inefficient Market: Insiders out
17 Jul 2001 -
Oiling economic growth
13 Jul 2001 -
Mack’s Kingdom
12 Jul 2001 -
Not for widows and orphans
10 Jul 2001 -
The Inefficient Market: Small is beautiful
28 Jun 2001 -
Riding the yield curve
28 Jun 2001 -
Economic value destruction – The truth about M&A
21 Jun 2001 -
Chinesische Mauern?
18 Jun 2001 -
Finiti i profitti facili per i fondi speculativi
15 Jun 2001 -
Hard times
14 Jun 2001 -
Debt bondage
14 Jun 2001 -
No free lunches, just scraps
13 Jun 2001 -
Hard Sell
12 Jun 2001 -
Inefficient Market: Analysts’ Hard Sell
12 Jun 2001 -
Wolf in sheep’s clothing?
7 Jun 2001 -
Einde van tunnel in zicht voor Railtrack
5 Jun 2001 -
Sur les rails
4 Jun 2001 -
End of a dark tunnel?
29 May 2001 -
Burnt out banker?
28 May 2001 -
Niente più ricerche gratis
25 May 2001 -
No more free Bloombergs
24 May 2001 -
Changement de référence pour les indices de MSCI
21 May 2001 -
The index effect
17 May 2001 -
Euro pragmatist
10 May 2001 -
Pink slippery slope
4 May 2001 -
Legrand idea
3 May 2001 -
The Inefficient Market: Hedge fund returns
1 May 2001 -
A well-laid trap
29 Apr 2001 -
Time for change
26 Apr 2001 -
Saving, not spending
12 Apr 2001 -
Historische Lehren
6 Apr 2001 -
An island apart
5 Apr 2001 -
The Inefficient Market: Bear raids
3 Apr 2001 -
Historische Lehren
2 Apr 2001 -
Le Zorro des taux
2 Apr 2001 -
Confidence trick?
1 Apr 2001 -
From hero to zero
30 Mar 2001 -
History holds clues
29 Mar 2001 -
The Inefficient Market: Soros’s reflexivity
27 Mar 2001 -
Communication incestueuse
26 Mar 2001 -
Online-Albtraum
22 Mar 2001 -
Primes risquées
22 Mar 2001 -
IL NODO GORDIANO DELLE BANCHE GIAPPONESI
22 Mar 2001 -
Börsen-Astrologie
22 Mar 2001 -
Investment bank conflicts
21 Mar 2001 -
The Inefficient Market: Boring stocks are sexy
20 Mar 2001 -
No Greenspan put
20 Mar 2001 -
Cutting the Gordian knot
18 Mar 2001 -
Financial astrology
18 Mar 2001 -
Groupe Bertelsmann Lambert
16 Mar 2001 -
Groupe Bertelsmann Lambert
15 Mar 2001 -
The Wired Market: Cave-at Emptor
15 Mar 2001 -
Strategic infanticide
13 Mar 2001 -
Fighting the Fed
11 Mar 2001 -
UK pension funds
9 Mar 2001 -
Car crash
8 Mar 2001 -
Cultivating his reputation
7 Mar 2001 -
The Inefficient Market: Bottom fishing
6 Mar 2001 -
Good intentions
6 Mar 2001 -
Greenspan: Contre vents et marées
5 Mar 2001 -
Free Frankfurters
1 Mar 2001 -
Turning back the tide
28 Feb 2001 -
GLI ANALISTI NELL’OCCHIO DEL CICLONE
27 Feb 2001 -
Better late than never
27 Feb 2001 -
Buy, accumulate.. sell
25 Feb 2001 -
In need of a fix
22 Feb 2001 -
Break-up of Sommer’s Reich
21 Feb 2001 -
Euro-phoria
20 Feb 2001 -
The Inefficient Market: History repeating itself
19 Feb 2001 -
O’Neill’s dollar policy
16 Feb 2001 -
Diamond geezer
15 Feb 2001 -
Tail wagging the dog?
14 Feb 2001 -
The Wired Market: M&A pipe-dreams
13 Feb 2001 -
The Inefficient Market: Bursting bubbles
13 Feb 2001 -
Whitehall’s Warren Buffetts
13 Feb 2001 -
Hedge grows back
11 Feb 2001 -
Lynch mob
8 Feb 2001 -
The worm turns
7 Feb 2001 -
The Inefficient Market: January’s hangover
6 Feb 2001 -
Soft landing
2 Feb 2001 -
Amazon.bomb
31 Jan 2001 -
FSA behind the curve
21 Jan 2001 -
Behind the net curtains
19 Jan 2001 -
Made in America
18 Jan 2001 -
Reality check
12 Jan 2001 -
Liquidity trap
12 Jan 2001 -
Opportunistic intervention
10 Jan 2001 -
The Inefficient Market: War and peace
10 Jan 2001 -
Digger stops mining for web gold
5 Jan 2001 -
Dead cat bounce
4 Jan 2001 -
The Inefficient Market: Back to the Future
3 Jan 2001 -
Crash landing
3 Jan 2001 -
Be bearish
27 Dec 2000 -
Bears and shares
22 Dec 2000 -
At last, a good idea
21 Dec 2000 -
The Inefficient Market: Intel insider
20 Dec 2000 -
Spinning out of control
20 Dec 2000 -
Class war
18 Dec 2000 -
The Fox and the Crow
14 Dec 2000 -
History repeats itself
13 Dec 2000 -
Time to switch benchmarks
11 Dec 2000 -
Euro rally
10 Dec 2000 -
Eye on the ball
7 Dec 2000 -
Stock options inflate the bubble
6 Dec 2000 -
The Ministry of Information
6 Dec 2000 -
Talking up the market
6 Dec 2000 -
Wheel of fortune
3 Dec 2000 -
Corporate finance to the rescue
30 Nov 2000 -
New markets down the pan
30 Nov 2000 -
A new suit at T-Online
30 Nov 2000 -
Pension transparency
30 Nov 2000 -
Currency confusion
24 Nov 2000 -
Ulterior motive
23 Nov 2000 -
Barings on the block
23 Nov 2000 -
Crash dummies
21 Nov 2000 -
Grand ambitions
16 Nov 2000 -
Autonomy inside
15 Nov 2000 -
Banana Republic
10 Nov 2000 -
The Napoleon of cyberspace
9 Nov 2000 -
What underpins the new economy?
9 Nov 2000 -
Pre-Christmas sale
9 Nov 2000 -
Pension plans
8 Nov 2000 -
Currencies swim against the tide
7 Nov 2000 -
Unsure surplus
6 Nov 2000 -
Selective disclosure: Life’s not fair
3 Nov 2000 -
Risk paradox
3 Nov 2000 -
Don’t Yell, think
2 Nov 2000 -
Benchmark risk
31 Oct 2000 -
Falling to earth
27 Oct 2000 -
Euroland grab
26 Oct 2000 -
Upwardly Moviles
25 Oct 2000 -
A tale of two banks
25 Oct 2000 -
Subscription cheque in the post
23 Oct 2000 -
Daytrader’s plaything
20 Oct 2000 -
Fat Controller becomes cuddly
20 Oct 2000 -
Ruritanian republic of News Corp
17 Oct 2000 -
New economy party is over
17 Oct 2000 -
Aiming for the sky
17 Oct 2000 -
Oil and trouble
13 Oct 2000 -
Another Neuer Markt scandal
13 Oct 2000 -
The limits of expansion
12 Oct 2000 -
Buried in a box
11 Oct 2000 -
Facing the music
11 Oct 2000 -
Oil: Crisis? What crisis?
10 Oct 2000 -
Remaindered stock
6 Oct 2000 -
The regulator never knocks twice
5 Oct 2000 -
Europe’s pitiful periphery
4 Oct 2000 -
New market, old problems
1 Oct 2000 -
Great Danes please little Englanders
28 Sep 2000 -
Cheap but not free
28 Sep 2000 -
AOL Anywhere, everywhere
27 Sep 2000 -
B2B and B2C for BAA
26 Sep 2000 -
Burning less, still hot
26 Sep 2000 -
Sommer’s avatar
25 Sep 2000 -
Freenet’s free lunch
21 Sep 2000 -
Once bitten, twice shy
20 Sep 2000 -
Strength in weakness
20 Sep 2000 -
Boxed in
19 Sep 2000 -
A bridge too far?
18 Sep 2000 -
Which benchmark?
17 Sep 2000 -
More spinned against than spinning
15 Sep 2000 -
Moral Hazard
14 Sep 2000 -
Going for broker
13 Sep 2000 -
Nomura impaled on Dome
12 Sep 2000 -
Sparkling acquisition
11 Sep 2000 -
Locked in to a lock-up
11 Sep 2000 -
Boom-2-bust
8 Sep 2000 -
Extra, extra, Moneyextra
7 Sep 2000 -
Escaping the lock up
6 Sep 2000 -
Prying open AOL Time Warner
5 Sep 2000 -
Waiting not scooting
4 Sep 2000 -
TMT spells dynamite
3 Sep 2000 -
Out of the jungle
1 Sep 2000 -
Scooting along
31 Aug 2000 -
Reform floats slowly
11 Aug 2000 -
Time for a QXL
10 Aug 2000 -
Monopoly-2-monopsony
8 Aug 2000 -
Not an Absolut must
7 Aug 2000 -
T-rouble Online
4 Aug 2000 -
Lastminute reprieve
3 Aug 2000 -
Joy in the Valleys
2 Aug 2000 -
Summer Shopping
2 Aug 2000 -
Welsh Water wars
1 Aug 2000 -
The people’s bid will sink
31 Jul 2000 -
The Madness of Crowds
30 Jul 2000 -
Capital Derailed
27 Jul 2000 -
Rivers of debt
27 Jul 2000 -
Bidding for Europe’s attention
26 Jul 2000 -
Egged On
26 Jul 2000 -
Pouring Cold Water on Mutual Plans
25 Jul 2000 -
Last Mover Advantage
20 Jul 2000 -
LetsSellIt
20 Jul 2000 -
Freeserve needs a friend
19 Jul 2000 -
Bondholder Value
18 Jul 2000 -
Spreading Its Wings
18 Jul 2000 -
Wannabe Wanadoo
17 Jul 2000