Most investable assets and strategies tend to cluster into two broad groups - productive and scarce. Practitioners who are aware of the concave and convex nature of productive and scarce assets and ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Want to surprise people at cocktail parties when discussing the 2007-08 financial cataclysm? Just tell them the ...

In July of 2012 I wrote in Trading the Wrong Playbook Bubble that negative interest rates took the discount out of the discount rate. The idea was that the reason so many asset managers (especially ...