For 27 years, Martin Hutchinson was an international merchant banker in London, New York, and Zagreb. He ran derivatives platforms for two European banks before serving as director of a Spanish venture capital company, advisor to the Korean company Sunkyong, and chairman of a U.S. modular building company. In Zagreb, he established the Croatian debt capital markets, set up the corporate finance operations of Privredna Banka Zagreb, and arranged for the monetization of 800,000 frozen Macedonian foreign currency savings accounts. He has been a financial journalist for over 14 years, and is the author of Great Conservatives and co-author of Alchemists of Loss, which details the causes and consequences of the 2008 financial crash. He currently publishes a weekly column called The Bear’s Lair, in which he comments on the economy and market. He is also a correspondent for Reuters’ BreakingViews. Martin has a first class Honors Degree from Trinity College Cambridge and an MBA from Harvard Business School.
Around the globe, financial fraud costs businesses and governments trillions of dollars annually. Stronger auditing systems would be the easiest way to fix the problem. The solution? Use artificial intelligence to enhance fraud detection.
This week in Friday Charts, we’re serving up some timely snapshots of the end of the (retail) world as we know it — thanks to Amazon — along with S&P 500 volatility and the obscene cost to insure against the next market implosion.