The Inventor of Behavioral Finance Looks Back

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“Economics is…a branch of…animal behavior.” – Walter L. Battaglia Behavioral finance is one of the great discoveries of our time, and the University of Chicago professor and investment manager Richard Thaler is one of its principal discoverers. Misbehaving is Thaler’s personal account of his discoveries, which influence the way assets are managed, policy is conducted and economic theory is understood …

Can We Recover from the Public Debt Crisis? Of Course We Can

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“If something cannot go on forever, it will stop.” – attributed to Herbert Stein Is the world facing a public-debt crisis, or is too much debt just another headache we will muddle through? How can investors distinguish between countries that are likely to default or otherwise injure debtholders, such as through high inflation, and those that will resolve their debt …