Sebastien Canderle

Sewage treatment works, owned by Thames Water, in west London.  In cases where debt-ridden companies provide vital services, governments usually have to step in, as the UK authorities are expected to do in a potential renationalisation of Thames Water.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Distress investing: Crime scene investigation

The ultimate murder weapon is almost always leverage and financial sponsors the main culprits

Conglomeration is a good way to maintain control over family businesses, as Reliance, Mahindra, and Tata, among other firms, have demonstrated in India.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Private capital: Lessons from the conglomerate era

GLOBAL private capital firms are charting a well-travelled course. With their sprawling empires, the largest alternative asset managers have adopted strategies that borrow extensively from the octopus...

“Independent” central banks purchased government bonds to keep the economy afloat throughout the 2010s and resorted to even more unconventional monetary policies during the pandemic.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Public debt: Four ways to deleverage

HOW does public debt influence an economy’s long-term potential? A decade ago, some economists claimed public debt in excess of 90 per cent of GDP led to negative growth. Others disputed these paramet...

To anyone with experience in the markets, many axioms of the efficient market hypothesis – including perfect information, investor rationality – are, at best, far-fetched.
INSIGHTS FROM CFA SOCIETY SINGAPORE

Debunking the myth of market efficiency

SIXTY years after it was first formulated, the core tenet of the efficient market hypothesis (EMH) – that stock prices fully reflect all available information – is still considered gospel truth in man...