Reflections

By |2017-10-19T11:21:32-04:00October 19th, 2017|Categories: Global Market Update|Tags: , , , |

What have we learned from the last 10 years? S&P 500, log scale. Source: Bloomberg In October 2007 the stock market was reaching new highs – levels it did not reach again for another six years. We had begun to hear troubling news about foreign hedge funds and sub-prime mortgages, but those noises seemed like distant thunder on a summer day: of concern to those caught in the downpour, but local, isolated problems. Little did we know [...]

A Regulatory Pendulum

By |2017-02-23T10:22:33-04:00February 21st, 2017|Categories: Global Market Update|Tags: , , |

How much regulation do we need?   Photo: Arnaud Clerget. Source: Wikipedia After the financial crisis, Congress enacted new regulations on the financial system. The concern was that big banks had gotten us into an awful mess through their reckless lending, so we needed to put new rules in place to make sure they never did that again. Dodd-Frank has been in effect for over six years now, and it’s reasonable to ask if anything has changed. [...]