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Andrew Smithers

Andrew Smithers

Contributor since: 26 Feb 2010

Biography

Andrew Smithers, founder of Smithers & Co., is also columnist for London's Evening Standard and the Tokyo Nikkei Kinnyu Shimbon's Market Eye, and is regularly quoted in the New York Times, Barron's, Forbes, The Economist, The Independent, and the Financial Times.

  • Why Balance Sheets are Not in Good Shape

    Published 01 September 2007 | viewed 3,815 times

    Financial Times (Comments page), 30th August 2007 One frequent claim used to calm fears in the recent market turmoil has been that "corporate balance sheets…

  • There is Little Value in Broker Economics

    Published 06 January 2006 | viewed 7,173 times

    Originally published in the Financial Times, 4th January 2006. The FT reports regularly on the views of economists and stockbrokers. Readers might be intrigued by…

  • The Economic Framework for Flourishing Pensions

    Published 26 July 2005 | viewed 4,548 times

    Talk at Politeia in London. Stating the Issue. The economics of the pension debate seem to me to have been bedevilled by confusion between household…

  • A Case of Panic Now, Not Later

    Published 17 September 2004 | viewed 4,735 times

    Stock market returns over the next 10 years or so are set to be very poor. The stock market resembles roulette in several ways. In…

  • The Longer You Play, The More You Lose

    Published 20 May 2004 | viewed 3,088 times

    The Sunday Times, 16th May, 2004 Unlike most articles about investment, which tell people how to make money, this one will try to persuade you…

  • In Denial. One thing Europe and America have in common.

    Published 26 February 2004 | viewed 2,487 times

    Nikkei Business, 23rd February 2004 The fall of communism has not brought an end to ideological disputes about economics. European and American politicians routinely rubbish…

  • Pension Funds and Forecasts of Equity Returns

    Published 16 January 2004 | viewed 6,392 times

    Talk to the City Monetary Group. I am expecting something of a revolution, over the next few years, in the assumptions that are made about…

  • Japan: Optimism not Realism

    Published 13 October 2003 | viewed 2,840 times

    Nikkei Kinyu "Market Eye" Column., 26th September 2003 Japan is experiencing a cyclical upturn, which the optimists hope will turn into a sustained recovery. The…

  • Exuberance Returns

    Published 07 August 2003 | viewed 2,255 times

    Stock markets rise and fall more than they should on any rational basis. This is usually shown by excessive optimism when times are good and…

  • Economic Fashions

    Published 04 June 2003 | viewed 2,081 times

    Fashion, as much as theory, drives economic policy. The public debate is simplistic. Names are given to policies. Keynesians, monetarists and supply-siders are supported like…

  • Euro Entry

    Published 20 May 2003 | viewed 2,446 times

    As the prospect of Euro entry recedes, there has been a welcome improvement in the quality of the debate. There is a good case for…

  • How Fukui Should Deal With Deflation

    Published 15 May 2003 | viewed 2,479 times

    Central Banking (Quarterly Journal vol XIII no 4 On the 20th March, a new Governor of the Bank of Japan took over. The previous incumbent's…

  • Independence For Scotland

    Published 07 May 2003 | viewed 2,327 times

    The most interesting feature of the Scottish elections was the pledge by the Nationalists to cut business taxes. It shows why Scotland and England should…

  • The Post Budget Debate

    Published 22 April 2003 | viewed 2,318 times

    Press comment on the budget has been sharply divided. Most writers have been scornful of the Chancellor's economic forecasts, while a few believe that he…

  • Poor Imprudent Brown

    Published 15 April 2003 | viewed 2,162 times

    Gordon Brown has got his sums wrong. Next week I expect him to tell us that tax revenue is lower than he expected. But this…

  • The Reward For Taking Risk

    Published 26 March 2003 | viewed 2,292 times

    Equities are risky. This is why they give better long-term returns than bonds or cash. This truth was repeatedly and foolishly denied in the bubble…

  • The Demographics Of Protectionism

    Published 10 March 2003 | viewed 2,186 times

    The United Nations has just published a new report on the world's population. The threat of a world with standing room only has become less…

  • Ben Bernanke and the Risk of Recession

    Published 05 March 2003 | viewed 2,875 times

    The difficulties facing the US economy are largely unrelated to the Middle East. Forecasters are overplaying the effect on confidence of the possible Iraq war.…

  • Bad Economic Management

    Published 24 February 2003 | viewed 2,515 times

    One of the most persistent economic fallacies has been the idea that cutting costs is good for an economy. Probably the saddest example of this…

  • A Rise in Savings

    Published 13 February 2003 | viewed 2,152 times

    We are everywhere being bombarded with scare stories about ageing populations being unable to afford to retire. The standard solution is higher savings and, notably…