For bank shareholders, bad
memories of the financial crisis are fading into history.
Thanks to lingering
memories of the financial crisis, many are not prepared to risk everything to the possibility of dramatic market loss.
Not exact matches
Even those with short
memories can recall the tech boom and bust at the turn
of the last decade, or the
financial crisis we are still digging out
of.
Moreover, it is now doubtful whether the efficient market hypothesis makes any kind
of sense. Indeed, a great many economists and bankers have discovered Minskyâ $ ™ s views on
financial fragility and his
financial instability hypothesis, according to which banks and
financial markets can not be left to themselves: we need regulations even though regulating markets may not succeed in avoiding another
crisis once the
memory of the current
crisis has faded away.As told to me by a law student recently hired by Blackrock, the largest asset manager in the world, with assets totalling more than 3,500 billion dollars â $ «thatâ $ ™ s one and a half times larger than UBS and twice as large as PIMCO â $ «many asset managers are now turning away from hiring neoclassical economists and actually prefer hiring engineers, sociologists and even philosophers.
In 2008 as the world was engulfed in the worst
financial crisis since the 1930s, both Nicolas Sarkozy and Gordon Brown evoked the
memory of Bretton Woods, and a rethink
of the world
financial system.
First, those with fresh
memories (and losses) from the 2008
financial crisis liked the idea
of a product where you are guaranteed to not lose money.
The
financial crisis of 2008 and the great recession that followed is still fresh in the
memories of many investors.
Now we are in probably one
of the most unpredictable years in recent
memory, with no
financial crisis to unwind, debt to be paid (written off), threats
of war, and who knows what else.
Across the booth's back wall, a series
of 86 global newspapers blackened by smoke (one piece, $ 12,000) are a
memory of the past decade's
financial crises — and a reminder
of their impact across the world.
The Stock Exchange rule - book was before the Monopolies Commission, 2 % commissions were on the way out and old hands, to whom 1974 was a fresher
memory than the recent
financial crisis is today, felt that «the jig was up», but Martin relished the pulse, the ticker and the impact
of news.
The millennials, the oldest
of whom are just now entering their 30s, still have fresh
memories of the housing crash and
financial crisis.