Business

...a more dangerous situation now than in 2008

Billionaire investor and philanthropist who funds progressive causes globally

...the most serious financial crisis we've seen at least since the 1930s, if not ever.

Governor of the Bank of England (2003-2013)

Poor families in the informal economy are both producers and consumers. In both roles, they need access to financial services at least as much as wealthier producers and consumers. They may even need it more because they have far less regular income and expense streams and less of an economic cushion to begin with.

The only serious mechanisms which have made progress in this sense are growth, microfinance and democracy. Economic growth will naturally have some spill-over to the poor, democracy helps transparency together with political consciousness and microfinance helps the very poor to develop their own business and allows them to control their own lives without expecting the help of anyone.

French Economist, Advisor to Mitterrand & Founder of EBRD

Chinese global trade went down 20% and Chinese exports collapsed by 25%. This had an immediate effect whereby factories along the coast, in the last quarter of 2008 alone, fired between 20-30 million migrant workers.

Founder of Gavekal Research & Investment Strategist

This is a very tough question because the correlation between growth and returns on assets in China has been completely non-existent. You have had this tremendous growth, with fairly lame returns for equity investors!

Founder of Gavekal Research & Investment Strategist

We have to acknowledge that the global economic recovery that we started to see in 2009 was the first economic cycle since World War II that was not led by the US, but by China. We're seeing a cycle where China is now a leader, and experiences the biggest rates of marginal growth in the world.

Founder of Gavekal Research & Investment Strategist

He told me that his returns got so much better in the Bahamas, why? Because he got the Wall Street Journal a few days late! It's so difficult to mentally distance yourself from the herd and so perhaps physically distancing yourself from the herd is a good idea.

Value investor and niece of legendary investor John Templeton

I genuinely believe that you can train yourself to see trouble as opportunity and realise that the best time to make money is when other people are most fearful.

Value investor and niece of legendary investor John Templeton

The point of maximum pessimism is the ultimate time to buy a stock because at this point, all the sellers are gone… and only buyers remain. How do you determine this point? Even Uncle John said it's impossible…. You never know until it has passed!

Value investor and niece of legendary investor John Templeton

Human beings have a real tendency to overreact on the upside and the downside. We are not rational investors. I do not believe that people make rational financial decisions! If you study financial decision-making you will find that human beings are irrational in a very predictable manner.

Value investor and niece of legendary investor John Templeton

We tend to see two scenarios that come up time and time again. The first and most common scenario is that security prices become inefficient or show large departures from intrinsic value when there are few investors paying attention to the company. The second is a crisis situation. Uncle John always had a desk-plate in his office that said 'trouble is opportunity' and that's very much how we see the markets.

Value investor and niece of legendary investor John Templeton

I'm very old-fashioned in the sense that I still feel you need a strong manufacturing sector in your economy. I was saying that in the late 1970's and early 80's and people just laughed at me. I think my day is about to turn.

For every example I could give you of regulations causing problems, I could give you two of regulations creating opportunities. I think this notion that regulation is causing problems is a real red herring.

It's clear to me that small businesses, particularly micro-enterprises, have been responsible for the majority of the gross job creation in the last five years… particularly through the recession.

There are a handful of families that own a very substantial degree of the economy including several companies on the stock exchange... The positive effect is through stabilising- it's very difficult for speculators to short stock here or to play tricks on the exchanges... there are simply not enough shares in free-float to do that.

Mathematician & Topologist, Solved the 4-Dimensional Poincaré Conjecture