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Cover Story
Mending the Seams: Financial Crisis Points to Needs for International Regulatory Reforms
by Amy E. Buttell
One of the hardest lessons learned from the recent financial crisis is that regulations have failed to keep pace with the innovations of an increasingly globalized financial system. Making adjustments to the current regulatory structure, which builds on ad hoc groups, may not be enough to avert further calamities. But, getting nations to agree on regulations—or even implement them in the same manner—is a political minefield. Through her interviews with regulatory experts, financial journalist Amy E. Buttell uncovers a number of obstacles that stand in the way of reforms that could avert future crises.
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Features
Independent Research: Salvation in the Middle Market
by Neil A. O’Hara
The outlook is fairly rosy for independent research firms. Wall Street firms have cut the number of companies that their analysts cover, leaving even some mid-cap companies out in the cold. In addition, middle-market money managers are no longer getting the support they need from the sell side. Independents look to capitalize on filling in these gaps.
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Investing in Troubled Times: Entrepreneurs are Your Safest Bet
by Joel M. Shulman
Tough economic conditions favor efficient producers. Entrepreneurs keep their organization costs lean, debt levels manageable, and expansion projects within reach; they are also less dependent on cheap debt or equity and are thus less affected than corporate bureaucracies by macro credit decisions that reduce borrowing capacity in the marketplace. Joel M. Shulman lists 15 attributes that can be used to identify entrepreneurial companies. Analyzing more than 12 years worth of data, he demonstrates that over an extended period of time entrepreneurs outperform corporate bureaucracies in most major categories and sectors.
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