Rivalry comes before good economic sense

Going all-out for maximised growth is often pushed aside

Four questions markets must not pass over

John Authers on bond yields, Greece, EMs and the equity bull run

Why value equations inevitably fall short

Human nature can throw a curve ball into any graph or chart

Draghi has to back QE words with action

Deflation crunch point is approaching in the eurozone

Cherry blossoms and a spring-loaded tax

Abenomics prepares to test consumer demand with 3% rise

Globalisation at risk as history restarts

Concerns grow that ‘peace dividend’ of 1990s must be repaid

three persons at a judging table. Illustration by Tom Clohosy Cole
©Tom Clohosy Cole

Thorny issues

Deciding what makes some businesses bolder than others in how they achieve success is not an easy task

Companies take note – raiders can be right

McKinsey’s consultants suggest the best strategy is to listen

A default pension option is needed from the sector

Giving people more freedom sounds good, but it often works out badly

Why gaining from value investing is hard

In the financial context, the word ‘value’ sets off emotions

Copper slide tied to China credit unwind

Decoupling effect as developed world markets ignore price fall

What to do about market inefficiency?

‘Value’ momentum leads eventually to bubbles and mispricings

Number games: was 666 low enough in 2009?

Judged by other US stock market bottoms, 2009’s looks early

CoE should heed Yale’s equities exposure

The systemic risks of big fund managers

Should big funds be regulated as systemically important groups?

Ziggy Stardust fears still haunting stocks

Politics, not finance, may pose greatest risk of new crash

Why good earnings may spell bad news

Market reaction shows investors have been taking a lot on trust

A return to the old game of second-guessing

The Fed and BoE embrace pre-crisis rules of engagement

Dealmaking is back – up to a point

Whatever occurs will be pale echo of heyday

The case for a healthy correction

Danger is a bubble that can only be corrected by a sharper fall

Emerging markets are badly served by ETFs

Investment vehicles have helped to create another boom and bust cycle

Eulogy to Bernanke’s turbulent Fed years

Early judgments of Fed chairmen have more tendency for revisions than economic forecasts

Endowments of more than academic interest

Cambridge declines to follow Yale model

Emerging markets suffer a developing hangover

Fed, China and now Argentina send investors scurrying for cover

Annual moment of truth at hand

Investors braced for boost in profits

Debate rages on small-caps’ big returns

Smaller companies reliably outperform over the longer term

Falling prices deflate recovery hopes

In the US and the eurozone, inflation is falling

FT and social media really do move markets

Wikipedia visits and Google search linked to swings, research says

2014 outlook: Market melt-up

US stocks may be overpriced and profit margins at a high but even bears say the rally has room to run

Stockpickers await their day with Godot

Will 2014 see the end of ‘risk-on, risk-off’ sentiment?

Take the Long View backwards

Buying Greek debt and selling German Bunds yields 2013 gains

Risks of QE are in the descent

Too slow a removal of stimulus could generate risky asset bubbles

So far so good for the Fed

Central bank manages first stage of its exit as well as it could

Hazards that could derail the rally in 2014

The case for further gains is strong, but risks remain

Revenge of the Stockpickers threatens

Passive managers have dominated sales for five years

Markets warm to Fed after taper tantrums

Investors convince themselves they can deal with less QE

Wealth of detective work on China’s data

Nobody is sure whether they believe numbers supplied by China

Reasons to be thankful in past 12 months

A list of happy surprises over the year

Underperforming Reits due an upswing

Look for Reits whose underlying business is not rate sensitive

Fund management reform will help avert groupthink

Reforming the investment industry should be a higher priority


John Authers John Authers is the Financial Times' Senior Investment Columnist, responsible for the weekly Long View and other columns on markets and investment. In a 22-year career at the FT, his previous posts have included global head of the Lex column, investment editor, US markets editor, Mexico City bureau chief and US banking correspondent. His latest book is The Fearful Rise of Markets.

John has a degree in Philosophy, Politics and Economics from the University of Oxford, and an MBA from Columbia University.

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