Macro: Lessons from the GFC

More than five years have passed since the start of the global financial crisis. John Addis examines the lessons it offers and what they mean for your portfolio.

There is no historical marker locating the genesis of the global financial crisis, no event to which one can point and say ‘it was here that it began’. The GFC started in earnest with the collapse of Lehman Brothers in September 2008 but an ensemble performance laid a quicksand of instability in the preceding years.

Legislators, beginning with Bill Clinton, took a wrecking ball to the regulations that had kept financial crises at bay since the Great Depression.

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