March 2003
Journal of Financial Planning;Mar2003, Vol. 16 Issue 3, p22
Academic Journal
Question & Answer
This section addresses several queries related to the financial services industry in the U.S. as of March 2003. The most overrated idea or trend in the industry is corporate/economy productivity. Probably overstated by the way in which technology capacity is introduced into the gross national product accounting and driving unsustainably high profit growth expectations. Also overrated are hedge funds that claim to generate eight to ten percent-plus rates of return, net of all fees. The increase in new, inexperienced players makes it highly unlikely. The Next Big Thing on the financial services horizon is the communist revolution within the heart of U.S. capitalism. There is a real probability that the industry will see a class struggle between retirees and workers that will change work-week patterns, executive compensation, equity and fixed income risk premia, currency values, and the shape of retirement benefits.


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