I thought this was pretty good short article by McKinsey on Value, Bubbles, the Financial Crisis, Leverage, the Equity and Credit markets and fundamental flaws by governments, managers, and investors.
Solution - It is to get back to the basics of adding value - increasing cash flows. It is not financial manipulations or engineering.
I think there has been and continues to be a misallocation of capital into the financial markets. The financial markets are not what they should be. It is now a casino. For example, Goldman is making its money by trading. That by definition, does not add value to the economy.
Why value value?--defending against crises - McKinsey Quarterly - Corporate Finance - Valuation
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