CSFI organised a very interesting and informative breakfast discussion with Bob Aliber – who brought out the fifth, sixth, and seventh editions of Manias, Panics and Crashes (following Charlie Kindleberger).
The round table discussion presented an opportunity to hear Bob Aliber discuss his rather bleak view in his open letter published earlier this year, in which he predicted a fairly imminent decline in US stock prices of “forty to fifty percent”. Five months prior to the round-table discussion he backed his own judgement when he had informed the CSFI organisers that he had shifted his own personal holdings into cash in anticipation of a market bust.
A slightly more positive view came from Jamie Dannhauser, in-house economist at Ruffer LLP, a member of the IEA’s shadow MPC, and a former research director at Lombard Street Research to respond, which informed a lively discussion.
Sapience Communications sponsors CSFI events and was very happy to support such a lively and informed debate.