By Benjamin Butler
The insanity continues in markets and financial assets. I read another article about an investor in Monaco this week who has been making a fortune flipping second hand Ferraris, which was reminiscent of my friend who has been doing the same thing in Zurich. This kind of behavior isn’t really in line with an economy where corporations are investing in the future. Most companies are just investing in buybacks and dividend hikes to justify their stock prices and the remuneration of the board of directors. The Morgan Stanley CEO was awarded a 25% hike this week.
I made a bold decision in the last week: I terminated the lease on my apartment in Hong Kong, where I have made my home for the last eight years. If you look how I have voted with my feet over the years it's quite interesting. For example, I left Japan in January 2006, ... Log in or subscribe to continue reading.