One of the puzzles of the 2007/8 credit crunch is how a relatively small loss of capital in a tiny market segment was transformed into a global financial crisis costing close to $1trn and sending the world economy into slowdown. Key players in this tragedy are a set of legal and accounting principles that are well-meaning, but turn financial hiccups into liquidity black holes. We will discuss regulatory solutions that would avoid this happening next time.
Avinash Persaud is the founder and Chairman of Intelligence Capital. Prior to founding Intelligence Capital and the GAM Persaud Investment Funds, he was Head of Global Research at State Street Corporation. Previously, he was Global Head of Currency and Commodity Research at JP Morgan. He held the Mercers' Memorial Chair in Commerce at Gresham College between 2002 and 2005, is a Governor of the London School of Economics and a Trustee, a member of the Board of the Global Association of Risk Professionals and the Chair of the CBC Working Group on investment flows. He is the winner of the Institute of International Finance's Jacques de Larosiere Award in Global Finance and an Amex Bank Award as well as a prolific author.
All of Professor Persaud's previous lectures may be accessed here.