Review of When Markets Collide: Investment Strategies for the Age of Global Economic Change
Mohamed El-Erian, When Markets Collide: Investment Strategies for the Age of Global Economic Change, McGraw-Hill, 304 pages
The author of this excellent book will not have been overly surprised by the dramatic events since it was written. In it he already analysed the forces reshaping international financial markets, the most immediately topical being the subprime crisis, principal-agent dilemmas, imperfect capital markets, derivatives and securitisation.
His emphasis, though, is on the role of
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