Category Archives: Finance and capital markets

“They get your money. You get a piece of paper.”

My first job in investment management was as a mutual fund analyst at Morningstar, and to this day I still remember my first Morningstar Conference. This was back in the days just before emerging markets were commonly accepted as an … Continue reading

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Risk parity and the power of branding

The “risk parity” concept has been among the most popular ideas in fund management and asset allocation over the past few years, and has been one of the keys to the extraordinary success of Bridgewater, one of the most highly … Continue reading

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Regulating complexity I: Ashby, Perrow, Haldane

The word “complexity” is being used a lot lately in discussions of the financial system, particularly when it comes to regulation. The severity of the financial crisis seems to have opened a space for new ideas about the relationship between … Continue reading

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It must be nice on Planet Davos (but for the rest of us, not so much)

In researching another project yesterday, I came across two articles about the economy that seemed to describe completely different realities. The first was by Joe Weisenthal of Business Insider, and described a general consensus among the great and good of … Continue reading

Posted in Finance and capital markets, Inequality, Labor | Leave a comment

Regulating systemic risk

The Hansen framework I offered in the last post remains a good starting point for thinking about sources of systemic risk, and points to some of the problems regulators face in regulating systemic risk. This is not to say that … Continue reading

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Defining systemic risk

Systemic risk is a big topic these days for obvious reasons – the near collapse of the financial system has had profoundly bad effects on people around the world, and its continued instability is a major source of concern. Finding … Continue reading

Posted in Finance and capital markets, Information and systems, Regulation | 2 Comments

Two questions for Fed Governor Tarullo

Bloomberg this morning included an article on recent comments by Fed Governor Daniel Tarullo on a push by regulators to require banks to fund themselves more appropriately: Federal Reserve Governor Daniel Tarullo is pushing an agenda to regulate banks beyond … Continue reading

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