Zaitech

(1) A brief history of Zaitech. (2) Japan as a role model. (3) Bigger than ever. (4) History tends to repeat itself. (5) Buybacks are a form of financial engineering. (6) Bond funds are “shadow banks.” (7) Laing warns that ETFs are weapons of mass financial destruction. (8) Eurozone’s bond bubble. (9) JGBs at 0.6%. (10) China has excesses galore. (11) Reaching for yield in emerging markets. (12) No exit from NZIRP? (13) Janet Yellen and Bette Davis.