Stroke of the pen risk
The risk that a change in the rules governing an industry could impair an institution's financial performance—more casually known as “stroke of the pen risk,”—is something that all companies are exposed to in varying degrees.
Peanut butter (or why to expect the improbable)
Would you rather give up your favourite food for the rest of your life or wake up every day with a 5% chance of being completely covered in peanut butter?
Argentina’s 100 year “Houdini” bond
Reminiscent of master escape artist Harry Houdini—who made a small fortune performing upside down and bound in heavily shackled circumstances—Argentina issued a $2.75 billion century bond in U.S.
Skydiving in a squirrel suit: Understanding the risks of NVCC bonds
Since 2010, there has been growth in a certain breed of bond in debt markets. This bond has a unique risk profile: it is a bond until a crisis scenario is triggered and then it turns into equity.
Galapagos Island risk
Complacency is often overcome, not by desire, but by necessity. In the case of business, a little competition is often exactly what we need to encourage improvement.
Why emerging markets?
Given the volatility and risks generally associated with emerging markets, some may ask “why there and why now?” There are a number of reasons...
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