John Authers

Senior Investment Columnist, Financial Times
Author, The Fearful Rise of Markets, Europe's Financial Crisis

Key insights on markets and investments.

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Biography

John Authers is the Financial Times' Senior Investment Columnist. Now in his 25th year at the FT, he has long been one of the most influential economic journalists in the world, editing the "Lex" column and authoring the "Short View" and "Long View" columns. In addition to the three full-length columns on finance, investing, and markets he writes each week, John keeps himself at the vanguard of new media, offering FT economic analysis via video in his daily “Authers’ Note” segment. The lessons of this remarkable career have come to fruition in two hard-hitting books about the instability of current markets: The Fearful Rise of Markets and now Europe's Financial Crisis.

These two books together illuminate the fragile state of the modern global economy. The Fearful Rise of Markets exposes how the previously disconnected markets of stocks, bonds and commodities became locked together — and crashed together. Here John established himself as a trenchant critic of the contemporary money management industry, identifying the way fund managers operate and charge for their work as a main driver of the crisis. Europe's Financial Crisis was a sequel, addressing the practical consequences of the crash for Europe and showing that any way out of the euro’s crisis would involve deep economic pain for Europe — and create problems around the world. Taken together, the books mark John out as one of most trusted navigators of the globalized financial world.

Mr. Authers appears frequently on television and radio. A regular guest host on CNBC, he has also appeared on the BBC, CNN, MSNBC, NPR and PBS. His work as a journalist has been widely recognized; in 2010, he was named Senior Journalist of the Year by the Wincott Foundation, the premier award for UK financial journalists. He has also twice been named the UK’s investment journalist of the year, while in the US, his videos have twice been honored at the Society of American Business Editors and Writers' Best in Business awards. He is also the co-author of The Victim's Fortune, an investigative account of the financial consequences of the Holocaust.

Books

Europe's Financial Crisis

A Short Guide to How the Euro Fell Into Crisis, and the Consequences for the World

John Authers

Will the Euro survive? Where is the European financial crisis headed? What will it mean for global and US markets? In this short book, internationally respected Financial Times journalist John Authers illuminates today's European financial crisis and the massive forces increasingly buffeting world and US economies. Authers explains why a strong recovery remains far away, why the risk of a disastrous "final" crisis remains terrifyingly real, and how investors can best navigate today's brutally challenging markets. The European Financial Crisis reveals why the 2010/2011 market rallies were so fearful, and why their underlying assumptions — continued Chinese growth, bailouts, progress towards bank solvency, more easy "Fed" money — have proven so tenuous. Above all, Authers shows how the Eurozone crisis uncovers today's worst unaddressed risk: the markets' loss of confidence in governments. This brief discussion offers  insights into underlying flaws in the banking system and the Eurozone's structure that remain unaddressed; how cheap money and bailouts have bought time that is rapidly running out; and the increasingly frightening signs of "perverse synchronization": forex, equity, credit, and commodity markets massively moving in tandem. He also offers specific recommendations for what policymakers can and must do now to restore the long-term health of the global markets.

FTPress (Nov 26, 2012)

The Fearful Rise of Markets

Global Bubbles, Synchronized Meltdowns, and How To Prevent Them in the Future

John Authers

Are we barreling toward another massive global financial catastrophe?

How can so many bubbles form all at once? Why are so many “disconnected” markets now capable of collapsing in unison? In this remarkably readable book, award-winning Financial Times columnist John Authers takes on these critical questions and offers deeply sobering answers.

Authers reveals how the first truly global super bubble was inflated—and might now be inflating again. He illuminates the multiple roots of repeated financial crises: a massive shift in investing power from individuals to big institutions; the migration of key decisions from banks to capital markets; the wholesale financialization of many asset classes; and fundamental failures of both theory and policy.

The Fearful Rise of Markets presents a truly global view, avoiding oversimplifications and ideology as it outlines how we got here and where we stand. Even more valuable, it offers realistic solutions—for decision-makers who want to prevent disaster and investors who want to survive it.

  • The herd grows ever larger—and more dangerous How institutional investing, indexing, and efficient markets theory promote herding  
  • Cheap money and irrational exuberance Super fuel for super bubbles

  • Too big to fail: the whole story of moral hazard Banks, hedge funds, and beyond  

  • Danger signs of the next bubble Forex, equity, credit, and commodity markets move once more in alignment

FT Press; 1 edition (23 April 2010 US)

Book Reviews

The Fearful Rise of MarketsFinancial Times

Video

John Authers speakes on The Fearful Rise of Markets

The Victim's Fortune

Inside the Epic Battle Over the Debts of the Holocaust

John Authers and Richard Wolffe

Fifty years after World War II, a small group of Americans launched a campaign to confront the world with the fact that many assets looted by the Nazis had never been returned to their owners. Backed by class-action lawsuits and threats of economic sanctions, they mounted a vigorous challenge against some of the world's largest corporations and governments to demand billions of dollars. But what began as a moral crusade soon became a bare-knuckle battle that opened up painful debates about whether money can ever compensate for the horrors of the Holocaust.

John Authers and Richard Wolffe offer a spellbinding investigative account of this momentous international struggle. The Victim's Fortune captures the personalities, ruthless tactics, and moral dilemmas surrounding the fight over compensation — all unfolding against the backdrop of one of the darkest moments in human history.

HarperCollins (16 May 2002)

Topics

John tailors each presentation to the needs of his audience and is not limited to the topics we have listed below. These are subjects that have proven valuable to customers in the past and are meant only to suggest his range and interests. Please ask us about any subject that interests you; we are sure that we can accommodate you.

Globalization and Markets

Where to invest? John can provide simple but powerful analysis of the interactions between the US, Europe, Japan, China and emerging markets, explaining how they are interconnected, the risks those connections pose, and how to invest in an globalized world.

Investment Strategy

Bonds or stocks? Active or Passive? Is there any role for gold in a portfolio? Is it worth buying stocks and holding for the long-term, or sticking with them? Do hedge funds make sense? What are the risks of another crash and how can we protect against it? John can illuminate all of these central issues for investors.

Emerging Markets (with special focus on Latin America and Mexico)

John ran the FT’s Mexico and Central America bureau for four years and is an expert in the region. With experience presenting on the region to both Latin American and European or North American audiences, he is the ideal speaker on the subject whatever the audience’s own level of knowledge.

The Global Financial Crisis

As the FT’s principal markets commentator 2007 to 2009, John was based in New York throughout the crisis, just blocks away from Lehman Brothers’ head office. The author of The Fearful Rise of Markets, a well-reviewed book on the crash, he can speak authoritatively on the causes of the crisis — and whether the world has really recovered from it.

Europe’s Financial Crisis

John returned to London just as the eurozone sovereign debt crisis broke out in 2010, and covered it both as head of “Lex" and as a senior investment columnist. He has presented on the subject in some of the most severely hit crisis countries, including Spain, Portugal and Italy, and can provide both an overview and detailed knowledge from the ground.

Banking Regulation and its Flaws

Why did the crisis happen? Because, in large part, banks and investment companies were inadequately regulated. Has anything been done to fix this? From the Volcker Rule through Basel IIII to proposals to bring back Glass-Steagall, John has had a front-row seat, frequently inveighing in columns against the weakness of the re-regulation that followed the crisis.

Value Investing

An alumnus of the Columbia Business School class in Value Investing which was started by Benjamin Graham and taken by Warren Buffett, John can enthusiastically address the issues surrounding value investing. It appears to have performed worse since the crisis — but, as he argues, it is still the best bet for the long term.

Videos

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