Investment management professionals are like physicians—we take care of our clients, not only of their wealth but also of their well-being, through the science of investing. Dedicated investment-management professionals ask, listen, empathize, educate, prescribe and treat.

DR.CHENJIAZI ZHONG

September 2014

September 23, 2014

Summary: Cyclical Growth and Geopolitical Risks

In the Eurozone, expansionary fiscal policy in the form of aggregate demand support and financial sector balance sheet repair has been absent in the post-crisis period (with a few exceptions) and is unlikely to play a role in cyclical developments next year. The fiscal drag will decline on a sequential basis, but the impact on… Continue reading

Global Equity, Global Macro, Market Commentary, Portfolio Management
September 23, 2014

Summary of Thoughts: Policy Dissonance

The post-crisis economic policy mix has focused on achieving a handful of crucial outcomes: Force the financial sector and bond markets to take credit losses from the crisis early and quickly. Stress test financial sector balance sheets, and turbo-charge conservative recapitalization plans with public money. Provide publicly-funded aggregate demand while privately funded aggregate demand is… Continue reading

Fixed Income, Global Macro, Market Commentary

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