Economic Forecasts and the Stock Market.

The Nikkei Financial Daily (Market Eye Column), 13th March 2007 The distinguished economist John Lipsky, who is First Deputy Managing Director of the IMF, recently remarked that the current state of the world economy was so good that we had the luxury of being able to...

“Behavioural Thoughts on Equity Valuation.”

The UK Society of Investment Professionals, 7th March 2007 Presentation by Andrew Smithers at UKSIP’s Professional Development Seminar on Current Issues In Equity, which was held at the Weaver Suite, 90 Basinghall Street, London EC2V 5AY. Full presentation:...

Too weak for a liquidity injection.

The Banker (The Bracken column), 1st February 2007 There is a high risk that the next recession will be severe, either by being prolonged or by being unusually deep. The fundamental problem is that asset prices have risen to such high levels relative to incomes. This...