The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, April 11, 2011

IMF changes its spots on efficient markets...

Two great quotes from Macquarie:

“With the exception of the mentioned “tail risks”, one can expect the self- correcting forces of financial markets, especially the increasing diversity of investors and their investment horizons, to take care of most is hard to see what other macroprudential policies could be recommended to further bolster the resilience of global financial stability.” IMF Global Financial Stability Report, April 2006

“The financial crisis highlighted the lack of sound liquidity risk management at financial institutions and the need to address systemic liquidity risk...More needs to be done to develop macroprudential techniques to measure and mitigate systemic liquidity risks.” IMF Global Financial Stability Report, April 2011

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