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Lessons in investing from John Maynard Keynes

BUSINESS

Lessons in investing from John Maynard Keynes

The most obvious lesson is that failure is a good teacher

Pfizer/coronavirus: no one-hit wonder

BUSINESS

Pfizer/coronavirus: no one-hit wonder

Investors are anxious about how long this vaccine halo can last

A reckoning for Spacs: Will regulators deflate the boom?

BUSINESS

A reckoning for Spacs: Will regulators deflate the boom?

The SEC is concerned about the market for ‘blank-cheque’ companies, including optimistic projections and celebrity endorsements

Commodities supercycle arrives as pandemic recedes globally

TRENDS

Commodities supercycle arrives as pandemic recedes globally

Sector-wide bull market gathers momentum

Margin debt and leverage are flashing red, again

BUSINESS

Margin debt and leverage are flashing red, again

Much of the froth in US markets is being driven by unusual liquidity flows that may reverse soon

Moderna increases vaccine supply target to 3 billion for next year

BUSINESS

Moderna increases vaccine supply target to 3 billion for next year

The investment boost for vaccine production comes as India grapples with a severe wave of coronavirus fuelled by a new variant

Bond investing needs a complete rethink

BUSINESS

Bond investing needs a complete rethink

Climate change is strongly influencing where and how money is invested

‘It was utter chaos’: the inside story of football’s Super League own goal

BUSINESS

‘It was utter chaos’: the inside story of football’s Super League own goal

The project is a breakaway contest that threatened to disrupt the power dynamics of the world’s favourite sport

ESG rush opens opportunities for betting against the angels

BUSINESS

ESG rush opens opportunities for betting against the angels

A 2008 paper examined the impact of investor aversion to companies in industries such as tobacco and gambling

Jack Ma/Ant Group: a disruptor who is no longer good for business

BUSINESS

Jack Ma/Ant Group: a disruptor who is no longer good for business

Beijing’s unrelenting displeasure with the man behind Ant justifies a steep haircut to the valuation of $316bn mooted before the listing was suspended

EM issuers raise record $191 billion on foreign debt markets in early 2021

TRENDS

EM issuers raise record $191 billion on foreign debt markets in early 2021

Borrowing through eurobonds — debt issued overseas, mostly in dollars, euros and yen — reached a new quarterly peak in the three months to March, according to data from Dealogic and Moody’s Investors Service

Vaccines are working: Charts that show the COVID endgame

TRENDS

Vaccines are working: Charts that show the COVID endgame

In countries that are still struggling to suppress a third or fourth wave, the vaccines have also saved lives

Vaccine patent gives US government ‘leverage’ over manufacturers

BUSINESS

Vaccine patent gives US government ‘leverage’ over manufacturers

Manufacturers are facing increasing pressure to boost supply by waiving intellectual property rights and sharing technology

How Credit Suisse rolled the dice on risk management — and lost

BUSINESS

How Credit Suisse rolled the dice on risk management — and lost

Greensill Capital’s fall from grace could cost Credit Suisse’s clients as much as $3 billion

Global savers’ $5.4 trillion stockpile offers hope for post-COVID spending

BUSINESS

Global savers’ $5.4 trillion stockpile offers hope for post-COVID spending

Households around the globe accumulated the excess by the end of the first quarter of this year, according to estimates by Moody’s

Loose monetary policy is today’s biggest market risk

BUSINESS

Loose monetary policy is today’s biggest market risk

The global equity market capitalisation has reached a record high in relation to global gross domestic product 

Investors brace for ‘major shift’ as momentum and value collide

BUSINESS

Investors brace for ‘major shift’ as momentum and value collide

Value stocks are rising fast and consistently enough to start classifying as momentum stocks as well

Central bank and consumer buying in India and China arrest gold’s slide

TRENDS

Central bank and consumer buying in India and China arrest gold’s slide

Demand for gold jewellery has rebounded in India, with imports hitting a near two-year high in March

Microsoft/Nuance: The $20-bn voice recognition deal is software giant’s latest random acquisition

BUSINESS

Microsoft/Nuance: The $20-bn voice recognition deal is software giant’s latest random acquisition

The $56 per share offer is more than double the price at which Nuance traded just before the outbreak of the pandemic

Dollar threatens the emerging markets party

BUSINESS

Dollar threatens the emerging markets party

The currencies of developing economies have fared less well than anticipated, while the dollar has gained nearly 3 per cent in the first quarter of 2021

Spac boom under threat as deal funding dries up

BUSINESS

Spac boom under threat as deal funding dries up

Investors are bogged down by the sheer volume of transactions. Rising valuations are also a turn-off

US offers new plan in global corporate tax talks

BUSINESS

US offers new plan in global corporate tax talks

The US Treasury has laid out a plan that would apply to the global profits of the very largest companies, regardless of their physical presence in a given country

From the Lex: Solid State Batteries could be the answer to EV industry's battery problem

BUSINESS

From the Lex: Solid State Batteries could be the answer to EV industry's battery problem

The science behind the lithium-ion batteries that drive the modern world has remained largely unchanged for more than three decades

The high threshold for further Fed intervention

BUSINESS

The high threshold for further Fed intervention

How far the US central bank would go because of the sharp rise in borrowing costs? The guessing game is on

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