I recently attended an excellent seminar held by State Street Global Advisors and Morningstar. Although the meeting focused on building portfolios with exchange traded funds (ETF’s), the highlight of the afternoon was a presentation on the current state of the global markets.
The speaker, Shawn Johnson, who heads State Street’s investment committee, made it pretty clear that the financial world is not back to normal. The recent blip in the stock markets notwithstanding, capital flows and business conditions are far from normal. But for the federal money tap, credit markets would still be largely frozen instead of only somewhat frozen.…Read More