Summit Notebook

from Global Investing:

BRIC: Brilliant/Ridiculous Investment Concept

December 7, 2011

BRIC is Brazil, Russia, India, China -- the acronym coined by Goldman Sachs banker Jim O'Neill 10 years back to describe the world's biggest, fastest-growing and most important emerging markets.  But according to Albert Edwards, Societe Generale's uber-bearish strategist, it also stands for Bloody Ridiculous Investment Concept. Some investors, licking their wounds due to BRIC markets' underperformance in 2011 and 2010, might be inclined to agree -- stocks in all four countries have performed worse this year than the broader emerging markets equity index, to say nothing of developed world equities.

from Abhiram Nandakumar:

Stories of intuition and hope

November 23, 2011

Infosys’ head honcho S.D. Shibulal revealed he is an INTJ type.  It is hardly surprising then that Shibu, as he likes to be called, was one of the pioneers of the Global Delivery Model – corporate speak for outsourced IT services.

from Abhiram Nandakumar:

A garage, a beaker and a Bunsen burner

November 23, 2011

Kiran Mazumdar-Shaw, one of India’s most influential businesswomen and among the world’s most powerful women, says she’s an accidental entrepreneur.

from Ask...:

Did Bernanke deliver?

April 27, 2011

Federal Reserve Chairman Ben Bernanke went where no sitting Fed chief has gone before - a live regularly scheduled press conference.

Ag committee chair says new faces mean new dynamic on Capitol Hill

March 16, 2011

They are new, enthusiastic and changing the environment on Capitol Hill.

House Agriculture Committee Chairman Frank Lucas says “do not underestimate the effect” of the large number of freshmen lawmakers on his committee, which will sit down to overhaul U.S. farm subsidies next year. USA/

HK Exchange’s Arculli plays it cool

By Rachel Armstrong
March 2, 2011

Spilling a piping cup of hot coffee down yourself in front of a room of journalists seconds before they start firing questions at you isn’t in your standard media training handbook.FINANCE-SUMMIT/
But 72-year-old Hong Kong Exchange Chairman Ronald Arculli, isn’t a man who gets easily ruffled. While the Reuters reporters went off in a frenzy bringing in tissues and mopping down the table, he just sat there keeping his cool,having not got a drop on his crisp white shirt or tie.

from Blogs Dashboard:

When is a threat not a threat?

By Reuters Staff
March 1, 2011

By Kirstin Ridley

British bankers are not threatening to head for the Swiss hills. But that doesn’t mean they won’t pack their bags. So says Angela Knight, the head of the British Bankers Association.
Knight told the Reuters Future Face of Finance Summit that if British-based banks such as HSBC, Barclays and Standard Chartered consider whether to keep headquarters in London – given the banker bashing, punitive taxation and pay restrictions imposed here -- that is merely a fact.

So how plugged in is the SEC chair? (technologically speaking)

March 1, 2011

Securities and Exchange Commission Chairman Mary Schapiro says her agency has its work cut out to compete with the massive amounts of money that private firms, policed by the SEC, pour into the latest technology.

from Chrystia Freeland:

Barton and Kleinfeld’s tips for Uncle Sam

By Chrystia Freeland
March 1, 2011

During the depths of the financial crisis, Alcoa announced that it would lay off 13% of its global workforce, or about 13,500 people. Since then, they have built up their presence in China and Russia, finalized a new mine in Brazil, and started construction of the world's largest aluminum facilities in Saudi Arabia. Alcoa's rate of job creation in its home country of the United States, however, has been rather tepid in comparison.

from Chrystia Freeland:

The revolutionary significance of job growth

By Chrystia Freeland
March 1, 2011

It was striking to hear how encouraged both Klaus Kleinfeld and Dominic Barton sounded when Chrystia asked them about the effects of the recent turmoil in the Middle East on the business environment there. Barton believed the regime changes in Tunisia and Egypt were "the dawn of a new good thing that's occurring" and noted that it is likely that new capital will come into these countries as a new leadership emerges. Kleinfeld, whose company is in the process of building the world's largest integrated aluminum system in Saudi Arabia, said that Alcoa is still very comfortable in the region and that the only surprises with their Saudi partners have been positive surprises. For Kleinfeld, the most assured way to bring about stability in a region plagued by unrest is to have businesses come in and create jobs: