Lenin’s despised gold is ultimate hedge

Humanity harbours a deep psychological commitment to the yellow metal, says John Plender

Editor’s choice

An illuminated BT logo sits above communications equipment on the BT Tower, operated by BT Group Plc, at dusk in London, U.K., on Monday, Dec. 15, 2014. BT started exclusive talks to acquire Deutsche Telekom AG and Orange SA's British wireless venture EE for 12.5 billion pounds ($19.6 billion), moving ahead with a deal that's set to spur more mergers in the U.K. telecommunications market. Photographer: Jason Alden/Bloomberg ©Bloomberg
Sixteen large UK schemes publish environmental, social and governance guide for fund houses
LOST HILLS, CA - MARCH 24: Pump jacks are seen at dawn in an oil field over the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom on March 24, 2014 near Lost Hills, California. Critics of fracking in California cite concerns over water usage and possible chemical pollution of ground water sources as California farmers are forced to leave unprecedented expanses of fields fallow in one of the worst droughts in California history. Concerns also include the possibility of earthquakes triggered by the fracking process which injects water, sand and various chemicals under high pressure into the ground to break the rock to release oil and gas for extraction though a well. The 800-mile-long San Andreas Fault runs north and south on the western side of the Monterey Formation in the Central Valley and is thought to be the most dangerous fault in the nation. Proponents of the fracking boom saying that the expansion of petroleum extraction is good for the economy and security by developing more domestic energy sources and increasing gas and oil exports. (Photo by David McNew/Getty Images) ©Getty Images
Fall in oil price to blame as almost four-fifths of active managers fail to beat the benchmark

The definition of an opaque asset class

Amid a flurry of deals, Sophia Grene considers whether private equity investment is worth the fees

Buyside empowerment ends the free lunch

Generating returns in 2015 will require considerable skill and a bit of luck, says Seth Merrin

NEW YORK, NY - OCTOBER 31: A woman looks at damage in the Rockaway neighborhood where the historic boardwalk was washed away during Hurricane Sandy on October 31, 2012 in the Brooklyn borough of New York City. With the death toll currently at 55 and millions of homes and businesses without power, the US east coast is attempting to recover from the affects of floods, fires and power outages brought on by Hurricane Sandy. JFK airport in New York and Newark airport in New Jersey expect to resume flights on Wednesday morning and the New York Stock Exchange commenced trading after being closed for two days. (Photo by Spencer Platt/Getty Images)
©Getty Images

Blue skies create a reinsurance tragedy

John Dizard wonders if the lack of storm losses has turned reinsurers into ‘climate refugees’

Hypnotist mesmerising a patient, c1795. (Photo by Oxford Science Archive/Print Collector/Getty Images)
©Getty Images

Portfolio theory hypnotises fund managers

Like alchemy, investing relies on the desire to believe in the impossible, writes Amin Rajan

History of bonds is repeating itself

David Oakley tries to assess the effect of high debt levels and regulation on growth

Beware Greek technocrats bearing gifts

John Dizard doubts that all will be well when the engineers take over society

Stand up and be counted on hidden fees

David Pitt-Watson struggles to make sense of investment costs

C22TW4 United States savings bonds and dollars.. Image shot 2011. Exact date unknown.
©P Kantor/Alamy

Bewitched by mandarins of central banking

John Plender fears significant economic costs are bound to arise from artificially cheap capital

Some clients are more equal than others

John Kenchington considers the implications of pension funds’ fee non-disclosure agreements


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