The March 2023 bank run on Credit Suisse (CS) has received much attention. As a result of this bank run, the Swiss banking regulator (FINMA) pushed for the merger of CS with UBS, another large Swiss bank, thus creating one of the biggest banking unions in history. The demise of CS shook faith in a… Read More »
Since the inception of Bitcoin in 2008, crypto assets, have long been perceived as one of the riskiest assets.1 Unlike traditional assets, many cryptocurrencies are decentralized, limited in supply, and difficult to value, leading to speculation, high divergence of opinion, and extreme price volatility. These features, combined with the rapid growth of crypto markets during… Read More »
Since 2007, a novel debt type, green bonds, has emerged as a popular instrument to raise and direct capital toward projects that curb climate change risk. Corporations, government agencies, supranational entities, and municipalities issue these bonds mainly in the US, China, and Europe. Annual green bond issuance has experienced exponential growth from $37.1 in 2014… Read More »
Do friends provide good financial advice that helps inexperienced investors earn a higher return in the market? Or do friends provide bad advice that leads to excessive investments in individual stocks and asset bubbles? In a new study, we provide evidence that new investors copy the portfolios of their friends and that the advice was,… Read More »
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