The dismal science produces a Happy Economist

Interesting times…

This is the last Reflections column for a while. By the time of publication I will have moved to Beijing for a few months to work on a couple of company projects and devote more time to the globalisation of Conexus Financial, this magazine’s publishing company. I intend writing a different sort of column for the magazine, which will not have the same pride of position as this, on pension funds, managers, strategies and events in the region. I will also be writing more for our Top1000Funds.com newsletter and website and doing groundwork on a large investment conference for fiduciary investors to be in Beijing late next year.

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Realities behind the SaaS sell-off

The roughly US$2 trillion ($2.8 trillion) sell-off in the global software sector since September 2025 is, while a painful drawdown for growth investors, also a timely reminder that asset owners should be more alert to stock-specific dispersion and hidden concentration risk inside portfolios, writes JANA head of research execution, Matthew Gadsden.

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