Archive January 2018
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Week InAdvance: January 29, 2018
Week InReview: January 26, 2018
• At the World Economic Forum's annual meeting in Davos this week, the International Monetary Fund argued that while the outlook for this year and the next was better than previously anticipated, a recession may be closer than many acknowledge and that investors and policy makers should guard against complacency.
• "The bull market seems to be steamrollering over everyone who has a bearish view," said Tim Adams, president of the Institute of International Finance, who was in Davos. "But there's a lot of complacency. There are termites in the foundation and a number of those are gnawing away at night."
• Signaling other causes for concern a new report released on Monday by the United Nations showed global flows of foreign investment fell 16 percent in 2017 to $1.52 trillion, while the International Labor Organization said progress in reducing vulnerable jobs had stalled.
Week InAdvance: January 22, 2018
Week InReview: January 19, 2018
"June 2018 will mark the 60th anniversary of the publication of Franco Modigliani and Merton Miller's classic article, 'The Cost of Capital, Corporation Finance, and the Theory of Investment.' Widely hailed as the foundation of modern finance, their article, which purports to demonstrate that a firm's value is independent of its capital structure, is little known by lawyers, including legal academics. That is unfortunate, because the Modigliani-Miller capital structure irrelevancy proposition (when inverted) provides a simple, but powerful framework that can be extremely useful to legal academics, practicing attorneys, and judges."
The Modigliani-Miller Theorem at 60: The long-overlooked legal applications of finance's foundational theorem - The CLS Blue Sky Blog
Week InAdvance: January 16, 2018
Week InReview: January 12, 2018
Week InAdvance: January 8, 2018
Week InReview: January 5, 2018
"Solicitations from traders looking to pick up business from the buy side will drop significantly as the regulations stipulate that all research must be paid for. Money managers are even taking steps to block emails from those firms that have been dropped from their broker lists."
- Who wins, who loses from MiFID II shakeup?