All articles by Daniel Ben-Ami

  • Daniel
    Opinion Pieces

    A perilous stability

    February 2020 (Magazine)

    A few years ago, when asset managers talked about market prospects, they often pointed to 2020 as the year when the world economy could run into difficulties

  • Eric Lascelles
    Features

    Briefing: Central bank about-turn bolsters gold

    February 2020 (Magazine)

    Gold is unlike any other commodity. It has few industrial applications of any note. It is widely used in jewellery partly because of its aesthetic appeal but also in many cases as a form of investment. Central banks distance themselves from acknowledging the precious metal as a kind of universal currency yet still keep thousands of tonnes of it locked away in their vaults.

  • Miranda Carr
    Interviews

    Interview: Miranda Carr, Haitong International

    January 2020 (Magazine)

    It is all too easy to forget that the markets are in a peculiar state. For example, nominal yields on US 10-year Treasuries have trended downwards since 1981. Real interest rates – that is, adjusted for inflation – have also trended downwards from about the same time. Estimates vary but there are also many trillions of euros worth of negative yielding debt.

  • Daniel
    Opinion Pieces

    A precarious balance

    January 2020 (Magazine)

    Why has there not been another global financial crisis over the past decade? That is a more fruitful question than trying to predict when the next bout of market mayhem will hit.

  • daniel ipe dec 2019
    Opinion Pieces

    The fiscal shift is no solution

    December 2019 (Magazine)

    There is a growing consensus that there needs to be a shift from extraordinary monetary policy to fiscal activism. Although quantitative easing (QE) will continue, there is a widespread recognition that its effects are diminishing.

  • christian bluth index
    Special Report

    Interview: Trading on discontent

    December 2019 (Magazine)

    Christian Bluth is a trade economist at the Bertelsmann Stiftung, a German foundation and think tank. IPE’s Daniel Ben-Ami talked to him about the increasingly contentious topic of international trade

  • 2020 investment horizons cover
    Special Report

    2020 Investment Horizons: Emerging markets face contagion

    December 2019 (Magazine)

    The protracted period of ultra-low interest rates in the developed world could have a nasty knock-on effect on emerging market debt 

  • zombie firms on the rise and surviving for longer
    Features

    Perspective: Fear the walking dead

    November 2019 (Magazine)

    Zombie firms – those dependent on the easy availability of cheap credit – threaten to suck the life out of otherwise viable companies

  • daniel ben ami
    Opinion Pieces

    Bond bubble threatens emerging markets

    November 2019 (Magazine)

    Although the prospect of a trade war is the tail risk that has most worried fund managers since mid-2018, other potential perils look more threatening

  • storing up future pain
    Opinion Pieces

    Storing up future pain

    October 2019 (Magazine)

    Anyone who back in 2008 had accurately predicted what monetary policy would look like today would certainly have been regarded as unhinged. 

  • nicolaas marais
    Interviews

    Strategically speaking: Wells Fargo Asset Management

    October 2019 (Magazine)

    By his own account Nico Marais is an extraordinarily lucky man. The CEO of Wells Fargo Asset Management (WFAM) is keen to use every opportunity to emphasise his good fortune. In Marais’s modest telling of his own story, his success is thanks to the qualities of others, rather than to his own merits. “It’s the story of my life. I’ve just always worked for amazing people,” he says. 

  • market paradoxes demand new ideas
    Opinion Pieces

    Market paradoxes demand new ideas

    September 2019 (Magazine)

    It is the most fundamental premise of investing yet it is increasingly redundant: invest your money rather than hiding it under the mattress

  • imf all commodity price index
    Special Report

    Financialisation: The commodities conundrum

    September 2019 (Magazine)

    It is an important practical question but it is hard to untangle how commodity prices are determined

  • shares of global output
    Features

    Global conflict: Another side of the triangle

    September 2019 (Magazine)

    So much attention is focused on the trade conflict between the US and China that it is all too easy to miss the bigger picture

  • Donald Trump and Xi Jinping at G20
    News

    Opinion: Far more than a trade war

    2019-08-09T09:15:00Z

    The are reasons to question the accepted description of the current tensions between the US and China, writes Daniel Ben-Ami – it is arguably far more serious

  • daniel ben ami
    Features

    The Disneyworld trap

    July/August 2019 (magazine)

    The remarkable reversal in the outlook for official interest rates over the past few months has received relatively little attention. Until recently it was widely accepted that rates could only move upwards. It looked almost certain that quantitative tightening (QT) would supplant quantitative easing (QE). Now the balance has reverted to further monetary accommodation.

  • george muzinich
    Interviews

    Strategically speaking: Muzinich & Co

    July/August 2019 (magazine)

    We are living in Disneyworld,” says George Muzinich, the CEO and chairman of Muzinich & Co, a New York-based investment manager specialising in corporate credit.

  • europe outlook special report
    Special Report

    Europe Outlook: Behind the gloom

    June 2019 (Magazine)

    Pessimism abounds about Europe’s prospects but is it justified?

  • daniel ben ami
    Features

    No going back

    June 2019 (Magazine)

    There is no going back to the days when the key political divide was between mainstream left and right

  • daniel ben ami
    Features

    Cultivating judgement

    May 2019 (Magazine)

    One of the big challenges we face, both in the financial world and in everyday life, is how to overcome our biases