The euro must be saved
Many fund managers are betting on the demise of Europe’s single currency, but the consequences of such an outcome could dwarf the risk-management tactics of any sizeable portfolio.
A business trip to the United Kingdom to see fund managers is asking for trouble these days.
“You should just get back on an aeroplane and go home to Hong Kong,” said one CIO, whose advice was based on the direness of the West’s economic problems.
Although there are plenty of things to concern investors these days, from America’s dysfunctional politics to emerging-market inflation, the biggest concern is the euro – perhaps no surprise for fund managers located just next door to …
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