The failures of modern finance

Robert Huebscher  | Advisor Perspectives | 15 June 2012

The seeds of the next crisis have already been sown – and they are fundamental flaws buried deep within the current theory and practice of finance, according to GMO's James Montier at the CFA Institute Annual Conference 2012.

Montier is a member of the asset allocation team at Boston-based Grantham Mayo van Otterloo. Ironically, a mere four days after Montier's presentation at the CFP Conference, JP Morgan's CEO, Jamie Dimon, revealed that his firm had lost US$2...