Efficiency

  • Flawed, Ignorant and Dangerous: A Bain Capital Partner’s Worldview

    May 8th, 2012 by John Fullerton

    “At base, having a small elite with vast wealth is good for the poor and the middle class.” This is how Adam Davidson’s piece in the New York Times Magazine summarized the frustrated former Bain >> Read more

  • Financial Collapse: It’s Only Natural

    November 14th, 2011 by John Fullerton

    What does the collapse of MF Global, the Euro crisis, the sub-prime mortgage crisis, the collapse of Fannie Mae and Freddie Mac, and the 1998 collapse of Long Term Capital Management all have in common? Certainly these crises all shared the following characteristics: too much leverage, lack of transparency, inadequate regulatory oversight, agency problems of misaligned incentives, >> Read more

  • Why We Need a Financial Transactions Tax

    August 21st, 2011 by John Fullerton

    Speculators may do no harm as bubbles on a steady stream of enterprise. But the situation is serious when enterprise becomes the bubble on a whirlpool of speculation. – John Maynard Keynes, Speculator and Economist You know you’ve hit a hot button when publicly traded >> Read more

  • Footprints and Foreclosure

    October 17th, 2010 by John Fullerton

    The global economy now uses 1.5 times the earth’s capacity to regenerate the natural capital we use every year, up from the 1.4 times of the prior year, according to a report of the well-respected Global Footprint Network.  In their Living Planet Report 2010 >> Read more

  • The End of Investment?

    September 26th, 2010 by John Fullerton

    I recently attended a school function and was chatting with a friend (“Pam” for the sake of this post) who is a buy-side analyst at a major asset management firm, the kind that manages hundreds of billions of pension fund assets, and 401Ks. Pam’s firm, like many mainstream asset management companies, is a signatory of the Principles for Responsible Investment (PRI). >> Read more

  • From Risk to Uncertainty

    August 9th, 2010 by John Fullerton

    Stress-test complacency will be a cause of the next financial meltdown. Economic commentators have been increasingly using the word “uncertainty” of late. The context has included the business climate, the stimulate vs austerity debate, and forecasting the investment outlook across capital markets. Two examples: “When >> Read more

  • Group_photo_of_the_2010_G-20_Toronto_summit_family_photo

    Is Sustainable Growth an Oxymoron?

    June 28th, 2010 by John Fullerton

    The first and overarching theme of the G-20 Toronto Summit is “laying the foundation for sustainable and >> Read more

  • capital dome

    Why the US Should Join the Momentum Building in Support of a “Speculator” Tax

    April 16th, 2010 by John Fullerton

    On April 15, I made a statement at the Press Club in Washington, DC., >> Read more