Emerging markets, inflation and currency risk
A post at Interactive Investor Blog on the nominal good performance of Zimbabwe’s stock exchange, is a useful reminder of the importance of real returns. This works both ways, and is why equity investors should not worry too much about currency risk. (more…)
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Private monopoly vs public monopoly
The most sane (albeit not against a very high standard) of a number libertarian (or, at any rate, very pro-market) bloggers in Britain that I read, admits that network effects mean that many markets tend to “collapse” into monopolies. I would add that many more markets tend to become oligopolies or cartels. In the face of this, why does he still believe that leaving everything to the markets is the best way to run an economy? (more…)
Low taxes do not attract investment
It appears that cutting corporate taxes does not make a country more attractive to investors. I do not find this surprising. The long term benefits of the right government expenditure (on education, infrastructure and health, for example) are obvious. So why are governments so keen on tax cuts? (more…)
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Can Woolworths recover?
I have never liked Woolworths, with its weak brand, unfocused retail format, and uncertain wholesale business. Now, at a time when things could not look worse, I am changing my mind. (more…)
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