Moving into a Risk-Averse Investing World
Michael Hughes has seen his share of market busts during a 33-year career in the City, London's financial center. Now chief investment officer of Baring Asset Management, which manages $47 billion in funds, Hughes is taking the current crisis, sparked by concerns about shaky debt hidden in complex financial instruments, very seriously—he thinks it has the potential to be worse than others because a long period of high economic growth and low rates encouraged so much risk-taking. He also thinks the current volatility may herald a shift from an era of risk-taking prompted by low rates to a more risk-averse investing world.
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