7 economic narratives from the Sevens to make us glad we live in Hong Kong
The first Hong Kong Sevens in the new Kai Tak Stadium was a success except for the rule that forbade outside food and drink to protect the concessionaires – who then ran out of, er,
food and drink
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Despite these privations, three days in a small seat surrounded by
thousands of people allows for deep introspection with neighbours. In between loud cheers for Hong Kong's victories in both the
men's and women's Melrose Claymores , the dominant narrative was geopolitics.
Blackrock CEO Larry Fink recently wrote to shareholders that 'nearly every client' and 'nearly every leader' is 'more anxious about the economy than any time in recent memory'.
Good investment forecasts are not made from a single narrative, such as inflation or interest rates.
Investment expectations are driven by a coincidence of the timing and strength of different sub-narratives which cause events to occur, as with the alignment of the holes in slices of Swiss cheese.
Each slice is a narrative that together makes investment forecasts multidimensional. Imagine the multiple factors involved in the chain of events that led to
the mid-air collision of two aircraft at Reagan Washington National Airport in January.
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