Opinion

One of the scariest aspects of the current debt crisis is the surfeit of cash on corporate balance sheets.

TWISTED THINKING

Kweku Adoboli, an ETF trader at UBS, is suspected of unauthorised trading which cost the bank £1.3bn. But UBS is far from alone in suffering the sting of internal fraud, as this gallery of the world's most infamous rogue traders shows...

FOUR HIDDEN RISKS

In December 2009, an economic paper called Growth in a Time of Debt was published by Reinhart & Rogoff.

Several features of the recession and financial crisis carried the label ‘extraordinary', not least the huge shifts in asset valuations.

Falling share prices are current news, but over the past two years the big issue for new investors is perhaps a different one: that of large falls in yields.

Among the brigade of economists and investment strategists a depressing idea has been gaining traction in recent years, one we might call the Japanification of the Anglo Saxon world.

"If you are going to panic, do it quickly," joked Hywel George from Integral Asset Management last week, as we pondered what was going on in markets. It was a different kind of discussion because we were joined by a real investor, that is, someone who...

"The future is not about equities, the future is about income." So said Stephen Drew, head of credit at Thames River, at the group's annual investment conference last week.