Hoy queremos comentar los argumentos que esgrime Nouriel Roubini en su artículo «Cómo prevenir una depresión» de esta semana en el blog de Reuters «The Great Debate«. Recordemos que Roubini es un prestigiosísimo economista que predijo perfectamente la gran crisis financiera de 2008, aunque en aquel momento se le tachó de agorero para arriba, ganándose el calificativo de Dr. Doom (Dr. Catástrofe). Los acontecimientos posteriores han demostrado que dicho calificativo era, lamentablemente, injustificado. (more…)
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Just a few days ago, we received an email via our website from a private banking employee who shared some heartening and sincere reflections with us. In it, he explains his experiences and concerns, which have led him to share our view of the world of financial advice provided by banks. Naturally, he has asked us to protect his identity to spare him any professional difficulties. Our sincerest congratulations to this honest and far-sighted professional, and we wish him all the best in his financial and personal career. Here is his letter in full: 
It appeared a few days ago 
In mid-2010, some well-known Spanish banks were sending us investment proposals in Greek sovereign debt. The reports and analyses we kept receiving insistently said that it was foolish not to take advantage of the yield differential between the bonds of Eurozone countries. They argued vehemently that we should not forget that, after all, this was an EU country, and that the Greeks would never be allowed to default, not even if their bonds depreciated by much more than they did at the time, with yields still hovering around 6%. In other words, little more than the yield on Spanish debt today. The arguments put forward were reasonable and reasoned, except for one small detail: They forgot that two and two are four.