The Steward Letter #1: What If the World Runs Out of Safe Assets?
What If the World Runs Out of Safe Assets? — Philip Chow Wealth Resilience Institute The Steward Letter Publication — Capital & Stewardship What If the World Runs Out of Safe Assets? Philip Chow Chief Investment Officer in Residence, Wealth Resilience InstituteFormer Managing Director, GIC I. We Have Been Here Before In February 2007, a small fracture appeared in what was widely believed to be a resilient global financial system. Bear Stearns disclosed losses linked to subprime mortgage...