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UK banks are leaving themselves open to “severe, unexpected losses”, by failing to properly measure how exposed they are to the $8tn private equity industry, the Bank of England has warned. In a speech on Tuesday, Rebecca Jackson, a senior executive at the central bank, said there was a “creeping sense of complacency” among lenders, who – despite a boom in loans and financing to the sector – had almost no ability to put together data “or even appreciate its crucial importance”. – Guardian ....
While artificial intelligence, technology, biotechnology and so-called momentum stocks are still all the rage, this column’s desire to march to a different beat and dig out deep value is bringing its rewards. ....