Friday, 6 September 2013

Zero Rates Take Investors Down A Dangerous Path

By Mark Spitznagel

The U.S. stock market’s return to nominal alltime highs amid artificial zero interest rates is sending yield-hungry investors down a dangerous path, one they hope will continue to lead to quick and easy returns. Such pursuits ignore a reality grounded in some of the oldest human wisdom, dating back 25 centuries to the Daoist sages of ancient China, who eschewed the direct in favor of the indirect–the roundabout that leads to better strategic advantage.

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