The International Equity Commitment
Stephen A. GormanISBN: 0-943205-44-1;
A short while back, I had the opportunity to travel to Asia to interview portfolio managers about that region's financial crisis. The downturn was already more than a year old at the time of my trip, and like many finance professionals from outside that part of the world, I assumed that the worst had nearly passed and that the conditions would soon return to normal. According to the money managers I spoke with, however, nothing could have been further from truth. Indeed, to a person, these market specialists predicted that the region would only get back to business as usual after some fundamental and potentially painful economic reforms at both the government and corporate levels. All told, the trip was quite enlightening-and more than a little shocking-for someone who had always imagined himself reasonably well-versed in the ways of global capital markets.
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