Russell Napier The Asian Financial Crisis 1995-98: Birth Of The Age Of Debt

On the evening of April 29th at The Library of Mistakes Edinburgh, The Keeper (Russell Napier) provided a lecture on his new book The Asian Financial Crisis 1995-98: Birth Of The Age Of Debt.

Written from the perspective of someone working in finance during the period, living in Hong Kong, the book focuses on investors’ misperceptions and their consequences. These misperceptions cost investors dearly as the crisis erupted but also cost them dearly as they missed a wonderful opportunity to invest at the bottom of the equity bear market in 1998.

Russell addressed the ramifications of the Asian Financial Crisis. It argues that the rise in global debt levels to record highs was only possible given the construction of a dangerously imbalanced global financial architecture in the aftermath of that crisis. Thus to understand where the world of finance and investment is today one needs to understand the Asian Financial Crisis.