Summary
Only a very small number of professional market observers suspected a few months after the Lehman collapse that the MSCI World would enter its longest bull market phase in March 2009. Over the last decade, there have been substantial changes, not only in central bank policies, but also in the global financial architecture. How have risk management approaches to investment evolved during this period and what are the challenges we face over the next few years?
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Inflation can significantly erode purchasing power, but the ECB may be underestimating the true increase in consumer prices by relying on a narrow measurement. Investors may want to ready their portfolios for a higher rate of real-world inflation in the euro zone, perhaps by employing an actively managed mix of equities, real estate and commodities.
Key takeaways
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