Stephen Roach's Pivot to China

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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This week on our Masters in Business radio podcast, we speak with Stephen Roach, the former chief economist at Morgan Stanley and now a fellow and lecturer at Yale University. 

In a wide-ranging conversation, Roach discusses the role of the Federal Reserve in helping to both foster the credit crisis as well as rescue the financial industry from its own follies. He gives former Fed Chairman Ben Bernanke mixed grades for his performance (bad precrisis, good post), and is especially critical of Bernanke's predecessor, Alan Greenspan. Roach credits Jonathan D. Spence’s "The Chan's Great Continent: China in Western Minds" with changing his perspective on China, where he lived for 3 1/2 years. The discussion is an education in how economic analysis can be used in disciplined investing. 

Hear the full podcast on iTunesSoundCloud and on Bloomberg.com. Earlier podcasts can be found on iTunes and at Bloombergview.com.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Barry L Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
James Greiff at jgreiff@bloomberg.net