Absolute returns and relative truth

Gloomy outlook for global economy dominated speakers' thoughts at latest Family Office Partnership conference

President Truman once noted it's a recession when your neighbour loses his job, it's a depression when you lose yours. That sense of the world economy being somewhere on a spectrum between bad and really bad hung heavy over Incisive Media's second Family Office Partnership event held late last month. Perhaps it was because of job threats in the City, perhaps because guest speaker Professor Michael Oliver had gloomy views on how long and deep financial crises can run. The outlook was certainly not all doom but when the bulk of the five managers presenting suggested individual skill and...