What asset owners learned from the 2008 crisis

Ten years ago tomorrow, US investment bank Lehman Brothers collapsed under its own debts, the latest casualty of a mounting US sub-prime mortgage crisis that morphed into a once-in-a-lifetime (hopefully) global financial crisis or GFC.  The consequences of that collapse still reverberate a decade later. US interest rates, though rising, remain at very low levels after seven years of experimental quantitative easing. That unprecedented monetary policy, which essentially resulted …