New York vs Singapore vs London: Best Financial Center?
Fascinating stuff:
“New York has withstood the worst economic crisis in seven decades and remains the leading global financial center, followed by Singapore, which topped London as investors’ preferred place for doing business, according to Bloomberg Global Poll.
Twenty-nine percent of respondents in the quarterly poll of investors, traders and analysts who subscribe to the Bloomberg terminal say New York will be the best place for financial services two years from now. Singapore is chosen by 17 percent of respondents and London is the pick of 16 percent. Shanghai has 11 percent, while Tokyo, once considered a global hub, gets the nod from only 1 percent.
I have mixed feelings about this poll: I am thrilled the home team (and my home town) took the top spot, but I am an Anglophile who loves London, and was sorry to see them slip to 3rd.
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Source:
New York Eclipses London as Financial Center in Bloomberg Poll
Alison Fitzgerald
Bloomberg, Oct. 30 2009
http://www.bloomberg.com/apps/news?pid=20601087&sid=aEC0OYmvvcZM
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October 29th, 2009 at 11:55 pm
Anglophile?
why pray tell-
who cares about London?
i don’t get it
~~~
BR: Its a long story . . . but the short version is Monty Python, Dr. Who, Coupling and Top Gear.
October 30th, 2009 at 12:13 am
If Paris were a leading financial center then I would consider a career…
October 30th, 2009 at 12:32 am
“Actually, Singapore’s success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials. Indonesia has no money. So Singapore isn’t doing well.”
“To sustain its economy, Singapore is building casinos to attract corruption money from China.”
-Andy Xie
October 30th, 2009 at 1:21 am
BR, evidently there’s a new way of getting from point A to point B in the UK these days…
http://www.youtube.com/barclaycardfreerun#p/p
http://www.youtube.com/barclaycardfreerun#p/c/568A672A25872CB8/0/JWw5eo3_hSE
Maybe The Big Picture can hire Tim Shieff should an official cat burglar for the blog be required!
October 30th, 2009 at 2:09 am
Did anyone see this aerticle about WaMu:
http://seattletimes.nwsource.com/html/businesstechnology/2010136506_wamu26.html
The priceless quote is here:
~~~
BR: Yes, I mentioned this on Monday:
Reckless Strategies Doomed WaMu
http://www.ritholtz.com/blog/2009/10/reckless-strategies-doomed-wamu/
October 30th, 2009 at 2:35 am
Seriously? Hong Kong not even mentioned? What a strange poll.
October 30th, 2009 at 3:11 am
ook_boo:
Right. The Asians got all the money now. It’s like the 1920′s when there was a shift in the financial center from London to N.Y.
October 30th, 2009 at 3:17 am
Why has the financial blogs-i-sphere gone so quiet? I miss the good old days of uncertainty and fear a-la 2008. It was so dramatic when it seemed like capitalism had failed and the end of days was nigh. Now the humble Big Picture blog has an RSS approaching 100,000 and alternative is the new main stream. Poor Mish got rung up by a public relations office from Citibank they were so concerned about what he was inferring from their credit card activities on his little blog. Oh well I guess things will get interesting again sooner or later.
October 30th, 2009 at 6:46 am
“…Poll respondent Bennett Gross, managing director of wealth management at Pacific Income Advisors Inc. in Santa Monica, California, says the regulatory crackdown may even be a plus. Investors, he says, may be willing to accept more constraints in exchange for stability and liquidity, particularly in the aftermath of the financial crisis.
‘Disastrous Downside’
“Most wealthy clients would accept higher regulation because it means the peaks and valleys will be a little less severe,” Gross says. “I doubt I have a single client who would not give up some of the upside to have less of the disastrous downside of 2008.” …”
–More Regulation, merely, entrenches the established Interests? Say it isn’t so..
or..
“…Consulting firm Kinetic Partners LLP says it had helped 23 hedge-fund firms move to Switzerland from London in the past 18 months and is looking to relocate another 15 since the U.K. announced a higher tax rate in April.
“About 20 percent of the hedge-fund community could leave the U.K. in the next two or three years,” says London-based David Butler, a founder of Kinetic. “The feeling among the hedge-fund community is there is a better place to be.”
Singapore, Shanghai
Singapore and Shanghai are growing in popularity as firms look for ways to tap the wealth that has accumulated in China and the rest of Asia. Private wealth management in particular is growing in Singapore, which has no capital-gains tax. “…
and, “…Sixty-eight percent of those surveyed say they are optimistic about the investment climate in Brazil;” but no mention of Sao Paulo?
and, (Micheal) Bloomberg is correct, additional/excessive Regulation is driving ‘Investment firms’ toward more favorable Jurisdictions..
October 30th, 2009 at 7:03 am
A little off topic, but some will strangle themselves rather that print “deflation”….
http://finance.yahoo.com/
“Top Stories
Euro inflation stays negative, unemployment rises- AP
Inflation in the 16 nations that use the euro remained negative for a fifth consecutive month in October while unemployment continued to rise, the EU statistics agency said Friday, suggesting the region’s economic recovery was sluggish.”
….What, pray tell, would a normal human think of the phrase “inflation stays negative”?
October 30th, 2009 at 11:12 am
couple nights ago thinking about my post in below debate .. I pushed in a 90 minute VHS music video compilation of Def Leppard concert footage and music videos (1988) … that tape got me wondering about the human spirit, the drive to survive, the drive to create something someone will buy with real cash they worked hard to get .. and the whole game theory of capitalism versus sharing music harmony
http://www.huffingtonpost.com/arianna-huffington/suggestions-wanted-for-ca_b_335779.html
ps .. more serious .. another midair collision … MEH – have the chips been hacked .. maybe I should ask Lockheed Martin .. just saw a 30 sec pompom piece .. to keep MSNBC on the air .. and you all wanting a piece of them
October 30th, 2009 at 12:10 pm
Barry, those are all the right reasons. You might add Led Zeppelin?
October 30th, 2009 at 12:12 pm
And the Beatles? Especially digitally re-mastered. Stunningly fresh.
October 30th, 2009 at 12:42 pm
any news on “Pirate Radio” .. yea nea ? worth the $s to see big screen while its hot not ?.. the Queens FCC shuts off rocknroll .. hit the water-waves to broadcast over the air-waves
http://www.imdb.com/title/tt1131729/
October 30th, 2009 at 2:26 pm
Greg0658,
which chips? if you wanted a list of the ‘microelectric’ components in one of those large Aircraft, you’d should shs. in WY b4 hitting Print..