It’s not possible – or at a minimum exceptionally rare – to be able to buy a good company at a good price in a good market. Investors have to be prepared to sacrifice one of these ingredients. Our strong preference is to forgo the latter. In Australian Finance Group... Show More
A recent working paper from the IMF titled “Credit Booms – Is China Different?” provides a good summary of many of the key issues facing China’s economy. Rapid credit growth since the global financial crisis is record setting for both its total expansion and its duration. Credit is being poorly... Show More