Moderation, Now.
Kate M. Welling interview with Andrew SmithersWelling@Weeden, 25th November 2009
Andrew Smithers See Asset Prices Again Signaling For Bank Caution.
Andrew Smithers, proprietor of the eponymous research shop Smithers & Co., based in London but with clients in all the world's major markets, has the mind of a first rate research scientist, several lives' worth of experience in the financial markets and the soul of a firebrand. All of which combined to produce his combustible new book, Wall Street Revalued, Imperfect Markets and Inept Central Bankers. In it, Andrew mamages not merely to demolish the last surviving vestiges of the Efficient Market Hypothesis and to eviscerate central bankers who rely on it to excuse ignoring the role their excessive monetary ease plays in inflating asset bubbles, he lays precisly how - and how not -to value markets. And why it is exceedingly important that central bankers, as well as investors, pay attention to market valuation.
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