We are living in times when millions of people dream of the possibility that the Christmas Lottery will make them rich. The common belief is that once this miracle has happened, their problems will disappear forever, and happiness will be the norm for the rest of their lives. But everything will depend on the attitude and decisions of the winners from the moment the Children of San Ildefonso call out their numbers. It is not so much about the amount of money the prize represents, but rather the way in which they decide to manage that sudden wealth.
It is now five years since we published an article entitled «Jurassic Park«, also at this time of year, that «the coexistence of a limited capacity to generate wealth and a sudden fortune will, in almost all cases, be an unnatural union that will seek to restore its balance». In other words, the union of a windfall of money with people who have not been able to generate it through their own efforts tends, unfortunately, to last only a few years.
We cannot ignore 
Here’s the 30-minute video by global macro management guru Ray Dalio (
China’s new financial experiment covers an area of 29 km²: Shanghai FTZ. A «free trade zone» in which the Communist Party’s economic restrictions are lifted as if by a stroke of political policy. In this financial centre, international investors will be exempt from the investment restrictions that apply elsewhere in China. And, note this: in this artificial oasis, the Chinese currency, the Renminbi (RMB), will be freely traded, as will its interest rates!.jpg)
Tim Haywood is the chief investment officer and head of the fixed-income division at the asset management firm