If the multimillionaires of Tiger 21 are alarmed, the global financial crisis must be bad. "One of the biggest surprises was how complex the world of finance is," says the group's founder.In recent months (only in recent months?) wealthy investors have really focused on risk, one private banker tells the Financial Times. Another private banker observes that some clients wish they hadn't spent so much time at the liquidity punch bowl: “The markets have created unexpected outcomes for investors who were well accustomed…to living with substantial leverage.”
Investment risk may become even less popular among the wealthy if Niall Ferguson's imaginary retrospective of 2009 is anywhere near the mark. Private bankers and other investment advisers will need to do heaps more handholding.
• • •
Niall Ferguson, a Scot who now teaches at Harvard, must be among the most popular of historians. Each of his books seems to come with a TV program attached. The program appended to his latest, "The Ascent of Money," airs on many PBS stations this evening.
Posts
No comments:
Post a Comment