SHOULD WE BE worried about the latent power of the US$76.7trn held in the asset management sector – 40% of global financial system assets – to wreak havoc on the world and unleash an unforeseen buyside catastrophe?
FINANCIAL COLUMNISTS ARE necessarily involved in prediction, even though forecasting markets is perhaps as reliable as astrology or clairvoyance. For longer time periods, financial market prediction is about as effective as forecasting the weather. But here’s one for you: the infrastructure finance market will be the source of the next global financial crisis. I can’t quite tell you when exactly, but it’s one long-range forecast I’m sure will come true.