Global Economy: Bathtubs versus Stagnation

Does the recent acceleration of growth in the global economy mean that we are finally turning the page on the GFC, which began in 2007?  That depends on which narrative of the GFC you subscribe to – the Rogoff and Rinehart \’bathtub\’ explanation or Larry Summers\’ \’secular stagnation\’ explanation.

Personal investing: The extra return to hybrid notes

Avoiding complex investments is a good guiding principal for investors.  Bank hybrid notes are an exception to that rule.  Yes, they are complex relative to plain vanilla shares and bonds.  But their reward-to-risk ratio, and their defensive qualities, are so attractive that investors should consider bank hybrids despite their complexity.