As the Year of the Tiger fades, it has been a year of drama and change. The last Year of the Tiger was 1998, an unforgettable year for the Asian financial crisis. As the Tiger year fades, there has been regime change in Tunisia and big demonstrations for change in Egypt. The Year of the Wood Rabbit in a metal year means that some of the Tiger volatility might remain. Surprisingly, from the perspective of investors, 2010 was quite a year of recovery, thanks to Uncle Ben and his printing machine.
I will not try to predict the future, but will use the Chinese New Year to reflect on an important publication that reviews the lessons of the last three years of crisis. We need to study the past to understand the future.
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