Value Investing Congress

I'll be speaking at the Value Investing Congress (VIC) on 3rd May in Pasadena. VIC is a great forum to hear from some of the best minds in the business. I'll be speaking alongside Howard Marks and Jeff Ubben - I am looking forward to meeting them. Whitney Tilson and John Schwatrz have done an outstanding job with the VIC.More...

The Importance of Developed Financial Markets

Gurufocus posted an article by me on The Importance of Developed Financial Markets (http://www.gurufocus.com/news.php?id=126102) and the Indian debt markets.
 
In the aftermath of the financial crisis of 2008, it has become fashionable to blame Wall Street and the financial markets for all the ills plaguing the US economy. The US has one of the most developed financial markets in the world and it forms the backbone of the wealthiest country in the world. More...

Relative Prices versus Inflation

Terms of trade have shifted away from agriculture toward manufacturing and away from manufactuing toward services since the industrial revolution started. This shift in terms of trade accelerated during the decades following World War II.

I have maintained that the introducton of 3 billion new producers and consumers into the free market system in the ealy nineties created a potential oversupply of labor for manufacturing (China) and services(India). The technology, media and communication revolution has made services tradeable. At the same time, the introduction of the new producers and consumers has increased the demand for agricultural products while reducing the labor supply to agriculture. More...