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Smart investing in a post-QE world

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Paul Sheard: "With all four major central banks doing some form of QE, the focus now is on where the respective central banks are in their QE and policy rate cycles."
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William Thomson: "The Fed could begin to attempt to withdraw the methadone in coming months and increase interest rates - which could dramatically increase volatility."
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Jesper Koll: "The BOJ will step up JGB purchases, while at the same time the national pension fund will be selling JGB to buy equities. This is a very pragmatic and well coordinated policy."
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Kenneth Courtis: "Chinese equities continue to be cheap. I advise investors to accumulate on any weakness, particularly of Chinese firms in the private sector."
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Ernest Kepper: "A banking crisis worse than the last one is coming because the banking system is bigger and without the resources to save it this time - because the Fed has no more bullets."

Panellists:

  • Paul Sheard, chief global economist, Standard & Poor's, New York;
  • William Thomson, chairman of Private Capital, Hong Kong; director of Finavestment, London;
  • Jesper Koll, managing director and