Author Archive: Economist

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Why simple rules are best when spreading your investment bets

Why simple rules are best when spreading your investment bets

BENJAMIN GRAHAM is considered the father of value investing, the business of picking stocks that are cheap. He might also fairly be described as the father of not trying to pick stocks at all. In his book “The Intelligent Investor”, Graham distinguished between two archetypes. Enterprising investors are willing to devote time and care to […]

July 26, 2018 | By | Reply More
Defence companies target the cyber-security market

Defence companies target the cyber-security market

AIR shows are where the world’s defence giants show off. This year’s Farnborough Air Show, which ended on July 22nd, was no exception. The roar of the engines on Lockheed Martin’s F-35 stealth fighters overhead drowned out many a sales pitch on the ground. But pride of place at Raytheon’s display area went not to […]

July 26, 2018 | By | Reply More
Japan finally gets casinos

Japan finally gets casinos

THE sun beats down on a queue of punters outside the Espace pachinko parlour in central Tokyo. Inside is an air-conditioned oasis. Japanese people wage over ¥20trn ($180bn) a year on this pinball derivative, fleeing the tedium of office and home life for its noisy thrills. Now it is to have competition. On July 20th […]

July 26, 2018 | By | Reply More
Tech firms are suddenly the corporate world’s biggest investors

Tech firms are suddenly the corporate world’s biggest investors

A COMMON way to describe the history of the technology industry is by product cycles. The 1990s was the era of the PC; then came the internet and related services, followed by mobile; and now artificial intelligence looms. But there is a different way to think about tech: it is switching from an era of […]

July 26, 2018 | By | Reply More
Japanese banks’ foreign exposure may threaten financial stability

Japanese banks’ foreign exposure may threaten financial stability

THE maelstrom that hit global financial markets a decade ago is known in Japan as the Lehman Shock, after the bankruptcy of the American investment bank that caused it. Japanese banks themselves escaped relatively unscathed, owing to defences built during the 1990s, when the country struggled with deflation and excessive debt. But they seem to […]

July 26, 2018 | By | Reply More
As private-equity firms mature, the way they buy and sell is changing

As private-equity firms mature, the way they buy and sell is changing

“SELL in May and go away,” say the denizens of Wall Street, and to the usual summer lethargy is added the excuse of a heatwave. But for those working in private equity, there is no let-up. The “shops”, as private-equity funds like to call themselves, are stuffed with money and raising more: $1.1trn in “dry […]

July 26, 2018 | By | Reply More
America and the EU are both toughening up on foreign capital

America and the EU are both toughening up on foreign capital

“DEAR Donald, let’s remember our common history,” wrote Jean-Claude Juncker, the president of the European Commission, on a picture of a military cemetery in Europe that he presented to President Donald Trump during talks on July 25th. The reminder of shared values and sacrifices may have helped nudge the two men towards a truce in […]

July 26, 2018 | By | Reply More
More misbehaving American executives get the boot

More misbehaving American executives get the boot

THEY are falling like dominoes. Executives caught behaving badly might once have been slapped on the wrist. Today they are shown the door. On July 19th Paramount Television fired its president, Amy Powell, over reports of insensitive comments about race (she strongly denies these and is hiring lawyers). A week earlier saw the forced resignation […]

July 26, 2018 | By | Reply More
Open offices can lead to closed minds

Open offices can lead to closed minds

“LONELINESS is a crowded room,” as Bryan Ferry of the band Roxy Music once warbled, adding that everyone was “all together, all alone”. The open-plan office might have been designed to make his point. That is not the rationale for the layout, of course. The supposed aim of open-plan offices is to ensure that workers […]

July 26, 2018 | By | Reply More
Car dealerships have become targets for cross-border investment

Car dealerships have become targets for cross-border investment

DARREN GUIVER started out as a trainee at a Ford dealership in 1986. He moved quickly up through management, buying dealerships until he had created Spire Automotive group, a network of 12 across south-east England. Two years ago Group 1, America’s third-largest dealership network, made him an offer he couldn’t resist. So Mr Guiver joined […]

July 26, 2018 | By | Reply More