Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy.
Its cool when I meet young guys from other bands who say how much an impact Aerosmith has had on them and how much they like me.I'll give 'em that 'C'mon you don't mean that' routine, but in my heart I know where they're coming from. If I had grown up in the '70's and was into rock n' roll, I know the kind of impact Aerosmith would have had on me. I know the kind of impact that Elvis and Jagger had on me, and while I'm not comparing myself to those guys, I can relate.
I believe investors should invest for the long run, so I don't buy and sell. I usually maintain the classic index of global equities, diversified U.S. and global and emerging markets, and when the risk is larger, I diminish the amount in global equities and put more into liquid assets - but very irregularly.
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