Things That Make You Go HMMM

A Walk Around The Fringes Of Finance

Grant Williams, Things that make you go HmmmMuch to his chagrin, Grant Williams has reached 30 years in finance.

Over that period, he has held senior positions at a number of investment banks and brokers in locations as diverse as London, Tokyo, New York, Hong Kong, Sydney and Singapore.

Grant is portfolio and strategy advisor to Vulpes Investment Management in Singapore and also one of the founders of Real Vision Television — an online, on-demand finance channel showcasing the brightest minds in finance.

A regular speaker at investment conferences across the globe, Grant blends history and humour with keen financial insight to produce unique presentations which have been enthusiastically received by audiences everywhere.

From humble beginnings in 2009, Things That Make You Go Hmmm... has grown to become one of the most popular and widely-read financial publications in the world.

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But here’s the thing... if there’s one thing I’ve learned in my 30+ years in financial markets it’s this: You should always be worried.

So worried that you never invest, ‘just in case’? Of course not. So concerned that you see a monster under every bed? No.

Every investor needs to handicap the risks inherent in any given market environment, work out how damaging they might be, assign a probability to each of them occurring and then allocate their capital accordingly with a view to ensuring nothing can inflict the big drawdown.

This necessarily means you will sometimes be out of the market when you should be in, but it also means you either won’t be in when you should be out, or that you recognize the turning points and can exit before any lasting damage has been done to your capital.

Which brings us back to Kuroda-san. He’s not worried, apparently, but he should be. In fact, the man should be terrified... Read more