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The Wisdom of the Currency Crowd

Harvard Business Review

The past year or so of Euro-crisis has turned me into a fan of the currency markets. Currency markets impose a fair amount of transaction costs on individuals and businesses, which is of course why people were so enthusiastic about the Euro. The best way to really get a handle on the choice you make is to look at the currency markets.

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Every Leader Is an Artist

Harvard Business Review

Do they provide emotionally rewarding experiences that are shared among members of a group, promoting stronger bonds and fostering personal fulfillment? The market doesn't care how leaders get results as long as they are achieved legally. Human significance. Great leaders are immensely more complex.

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Ratings Agencies Are the Darnedest Things

Harvard Business Review

In olden times, the bond raters at S&P and Moody's were financial advice providers, sort of like Morningstar is today. Having high ratings from S&P, Moody's, and Fisk thus means a bigger market and lower prices for your debt. The United States and Moody's Bond Rating Service." But what job is that, exactly?

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The Economically Out-of-Date Nation-State

Harvard Business Review

Financial Times journalist Wolf once extolled the successes of globalized markets and painted dissenters who worried about the risk to national fortunes as wild-eyed radicals. What about all these bonds floating around with the words "United States," "España," and "Italia" printed on them?

Porter 15
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When Research Should Come with a Warning Label

Harvard Business Review

His answer is that in a news market overflowing with facts, facts by themselves go unsold; they require a story—and that story, he says mischievously, needs some kind of bias on the part of the author, “a pair of lenses that slide over reality and aim to bring it more clearly into focus.” Where should all this go in our minds?”.

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What Alan Greenspan Has Learned Since 2008

Harvard Business Review

Not long after Alan Greenspan stepped down as Federal Reserve chairman in 2006, global financial markets began to unravel. Greenspan was never a hardline believer in the rationality of financial markets. It’s true of all commodity markets. Almost everybody is bullish, expects the market to go up, and is fully committed.

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Women, Finance the World You Want

Harvard Business Review

When she's not at work managing a portfolio that consistently outperforms relevant benchmarks, you can find her at home buying and bearing bonds. But the fact is that in the Wild West of investing, an Annie Oakley is rare — the realm of investing is still very much a dude ranch. Investing is about taking stock in you.