As we head into the graduation season, I am again being asked about "great advice" that I received at college.

Well, I am extremely privileged and lucky to have received such advice well before I got to university in 1977. And since then, I have been very fortunate to pursue...

The last few days served as a reminder of the inconsistency between the economy and markets. Next week will provide insights on what, until now, has been the great reconciler -- namely, the hyperactive experimental policies of central banks

Friday's disappointing GDP growth -- 2.5% in the first quarter, short...

Over the weekend, close family friends invited us to see Billy Elliot with them. We loved it. Yet in sharing our reactions to this musical driving home, it soon became clear that our 9-year-old daughter and I had been impacted quite differently.

Both of us wish for a sequel, a...

Having lived in Cambridge in 2006-07, we followed with heightened alarm and great sadness the tragic events of last week.

We mourned the loss of life at the Boston Marathon on Monday. We grieved at the casualties that followed. We despaired at how Boston and neighboring cities were brought to...

The press conference at today's Eurogroup meeting in Dublin showed the sad incoherence of the Cyprus rescue. Also, by confirming the concerns outlined in this note a week ago -- "Hey, They Are Stretching the Truth Way Too Far" -- it served to further weaken the credibility of...

Every week we all come across statements that, in seeking to engender confidence, risk stretching the truth too far. It is a hazard that governments, companies and individuals inevitably face when trying to emphasize the positive dimensions of a complicated situation.

In seeking to strike a rather delicate balance, the...

Draconian capital controls have restored a sense of calm to a disorderly situation in Cyprus. At best, this is a short reprieve. If not followed by more fundamental (and inevitably controversial) decisions, it will just be a matter of weeks before the controls go from being a temporary solution to...

A frail 94-year-old Nelson Mandela has again been admitted to hospital. On a prior occasion a year ago, I felt it important to take pen to paper to write about this exceptional and unique man whose achievements should -- and, hopefully, will -- be well-understood, admired and inspire many, and...

The U.S. equity market had a great finish to a wonderful first three months of 2013. In logging its best first-quarter performance since 1987 (11 percent), the Dow set yet another all-time high. For its part, the S&P surged 10 percent, ending above its previous (2007) record close.

The rally...

Cyprus is more than the sad story of a small economy which allowed its banks to grow irresponsibly. It is also points to shifts in the determinants of European stability.

After marathon and heated discussions, agreement was reached on a new rescue package for Cyprus. Compared to what had emerged a week earlier, this is a better technical outcome -- both in what it contains and in what is left out.

Yet implementation will be very challenging, especially as Europe...

With so much focus on the economic and financial dimensions of the crisis in Cyprus, it is easy for Europeans to overlook the geopolitical angle. That would be a mistake.

The greater the sense of desperation among Cypriot citizens (and the deeper their disappointment with the responsiveness of western European...

Viendo la polémica que hay desatada en Chipre, probablemente te preguntes a qué viene que cuente un par de historias sobre el viaje de negocios que me ha traído a España. La razón es porque creo que reflejan vívidamente algunos problemas que considero básicos para el futuro de Europa.

Saliendo...

With the Cyprus controversy raging you may wonder why I am sharing with you a couple of stories from my current business trip to Spain. I do so because I believe they crystallize in a vivid manner issues that are key to Europe's future.

On the way in...

On Saturday, European officials stunned Cypriots (and many others) by announcinga rescue package for their country that involves a levy on all bank deposits. The news is spreading far and wide, causing quite a bit of controversy in the process. There are also questions about what will...

Within the last 24 hours, G-7 officials issued a currency statement, "clarified" it and then criticized the clarification! Here, in summary terms, are three possible reasons for this muddle, as well as what it may mean for investors.

Let us start with the context.

Yesterday's statement was a...

President Obama delivered tonight a powerful State of the Union speech. Conveyed with passion and emotion, it will be remembered for many things -- from the emphasis on greater gender equality to the moving tributes for inspirational citizens and the presence of families whose lives have been torn apart by...

Unlike some previous years, including last year's controversial Clint Eastwood commercial, Sunday's Super Bowl made it through halftime without controversy. And having watched an imaginative Beyonce show and an inspirational Chrysler tribute to the armed forces, America sat down for the final 30 minutes of football... only for the game...

There is a lot of talk this morning -- and rightly so -- on the big drop in Apple's share price. After all, it is a widely owned and followed stock; it is one of the most recognized brands in the world; and it accounts for a meaningful...

I read Paul Krugman's column on Japan on the plane back from Tokyo yesterday. He is right on two counts: Japan is attempting a paradigm policy shift with potential systemic implications; and sustainability and success are not certain.

Prime Minister Shinzo Abe has returned to office with a...