My estimates of equity risk premiums, updated every month, are not designed to make big statements about markets but more to get inputs I need to value companies. The biggest winner from globalization ...

For a time, globalization was synonymous with utopia: the untrammeled flow of capital across borders, new markets waiting to be opened, the growth of developing nations flaunting their comparative ...

We increasingly hear the conclusion that Russia’s invasion of Ukraine means the end of the modern trend toward globalization. I certainly agree that Vladimir Putin's acts challenge it. But I also ...