"If it becomes necessary" time?BY BENJAMIN ONG | MONDAY, 4 JUN 2012 2:24PMThe more equities drop, the more we get closer to "if it becomes necessary" time for our friend Ben to provide some stimulation. Stop looking. There are no ifs, no ands, no ors ... Upgrade your subscription to access this article
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Skin in the game
CARMELO VIOLA
PARTNER, MANAGING DIRECTOR
VIOLA PRIVATE WEALTH
PARTNER, MANAGING DIRECTOR
VIOLA PRIVATE WEALTH
Viola Private Wealth executive chair, founding partner, and adviser Charlie Viola has worked hard to build his personal brand, and it shows. Viola's face is plastered across financial services media. This ubiquity, however, isn't without rhyme or reason. Andrew McKean writes.
A good reminder as why it's more useful as an investor to concentrate on what is, rather than what ought to be. I have always maintained that a 'focus on the long term' is unlikely to be a sufficient strategy for profit without some very careful asset selection in this market. Why? because many asset prices continue to reflect the expectation for intervention that Ben refers to, preventing the otherwise compelling valuation levels that ordinarily present themselves during times of market stress. It's the effective removal of this valuation risk (and the subsequent ramping up of multiples latter in the cycle) that is a key dynamic for the "profits over the long term" mantra. Without that there is little to drive those so called 'long term returns'. review you history people.