We strive to make all the writing in our magazine clear and readable. Meeting these twin challenges is not easy. But our task is no greater than that facing our readers, who bear the responsibility for making policy decisions across financial markets worldwide. Estimates of the number of such investors and the total assets for which they are responsible vary widely. These numbers have grown exponentially over the past 20 years, reflecting the expanding role of global financial markets in all aspects of business and finance.
Financial interdependence is the defining characteristic of our current investment environment.
Currency markets have become completely global, bond markets are increasingly affected by nondomestic buyers, and stock portfolios worldwide contain ever-larger portions of international holdings. As a result of this globalization, all large investors worldwide now deal with the same set of investment concerns. We expect comments from knowledgeable readers to become an important part of an evolving dialogue about investment policy issues. The principal setting for this dialogue will be the Bulletin Board on our Web site. Access to Bulletin Board postings is limited to subscribers, who may use this link to communicate with the Editorial Board, with authors, and with each other.