Swiss Gnomes and Global Investing
Written By: ,
Publisher: Blackstone Audiobooks
Date: March 2006
Duration: 2 hours 47 minutes
Swiss bankers are often called "gnomes", after the trolls of Swiss mythology. They are said to have great power, but are seldom seen-and are discreet to the point of being elusive and enigmatic. The Swiss banking industry has centuries of experience as a safe haven for international deposits and investments. Its competitive strengths are based in strong rights to privacy, a highly stable currency, and a virtually impenetrable system of military defense that exploits Switzerland's mountainous terrain. Switzerland's version of democracy also prevents the accumulation of power, making its political order highly stable and conservative. In Switzerland, change occurs very slowly - if at all. International commerce is thousands of years old, yet most investors still concentrate their attention on their home turf. Global investing does involve a number of complicating factors (such as currency risk, language barriers, variances in accounting practices and legal systems, ect.) But the truth is that global, investing can reduce risk by diversifying your portfolio beyond one economy, and it can increase returns by putting your money in faster growing markets (e.g. Asia and Latin America). Technology is making the world a smaller place, and some of tomorrow's best success stories will be found in foreign markets. This presentation puts forward the case for global investing, and discusses the techniques and insights of John Templeton, George Soros, Jim Rogers, and other gurus of international investing.