As professionals in the real estate markets, we have worked with thousands
of real estate investors and businesspeople, and we know that there is something
different about the mindsets of successful individuals. They approach
life with a certain set of assumptions, enabling them to apply analytical
strategies to their decision-making and, as a result, create positive professional
and personal lives.
Why is having the right mindset important? Investors the world over
are reeling from the effects of the Great Recession.
Notwithstanding some important steps forward, however, as we return once again
to Jackson Hole I think we would all agree that, for much of the world, the task of
economic recovery and repair remains far from complete. In many countries, including
the United States and most other advanced industrial nations, growth during the past year
has been too slow and joblessness remains too high. Financial conditions are generally
much improved, but bank credit remains tight; moreover, much of the work of
implementing financial reform lies ahead of us.
Fourth, this study applies new methodologies which have never been applied to
emerging markets. For instance, Chapter 5 explores the determinants of risk-adjusted mutual
fund performance using multidimensional regression in addition to the common approach,
which is to use a zero-cost trading strategy. This alternative methodology can explore several
factors simultaneously while controlling the effect between one and another. Using the two
methods allows us to examine determinants of fund performance statistically and
economically and it provides more meaningful results.
Global GDP growth has lost steam in the course of 2012, and leading
indicators point to further weakness in the remainder of this year. Among the
largest non-EU advanced economies, Japan's post-disaster recovery is
pausing, while in the US growth appears to be gradually firming after a
protracted period of subdued performance. However, the uncertainty related
to the path of US fiscal policy over the coming months remains high. At the
same time, many emerging market economies have recently been moving
towards a more moderate rate of economic expansion, which in part reflects...
The last three years have put many of us, not least the property industry, through a most
testing period. The City’s office stock has experienced its fair share of pain as capital
values plummeted by 50% between 2007 and 2009 and, in spite of a subsequent recovery,
remain some 37% below their pre-crisis values. Nonetheless, throughout the 2008 global
economic downturn and the ongoing Eurozone debt crisis, the Square Mile’s
ability to attract occupiers and investors has proved to be a litmus test of London’s
pre-eminence as a global financial centre....