A Trip Around the World Economy
This article is based on comments Milken Institute Chief Research Officer Ross DeVol made to the Institute’s Global Capital Markets Advisory Council (GCMAC) during a quarterly conference call on January 13, 2015. GCMAC is made up of senior leadership of large funds from around the globe with the financial and human capital to shape trends and markets. Together these influential investors represent more than $18 trillion in assets under management.
As DeVol commented in the third quarter of 2014, investors should prepare for greater volatility in financial markets and among asset classes, stemming from increased uncertainty about prospects for global economic growth and geopolitical events. DeVol says, "In retrospect, that was one of my better predictions in a while. Plummeting oil prices, a potential Grexit and deflation in the euro zone, a possible ruble crisis and a severe Russian recession (as well as ongoing tensions in Ukraine), along with a further slowdown in China and the other BRICs are the primary causes of heightened investor anxiety."
Read his paper for details.