Central Banks, Moral Hazard and the Prospect for Global Markets

Central Banks across the world have frequently used quantitative easing (QE) as a means to introduce greater liquidity into the economy.  However, QE has raised the risk of moral hazard: investors will take greater risks, knowing that the potential costs will be borne, in whole or in part, by others.Moreover, QE has increased asset prices, which in turn has severely affected the ‘prospective return’ on all assets.

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Multi-Act was founded in 1997 by two Wharton graduates, to develop an Equity Research capability for their own investments. Today, we employ 50 people who operate out of our offices in Mumbai and Pune and service a range of clients from wealthy families, family business owners to sophisticated investors and capital intermediaries around the globe.

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