Two ideas led me to join an emerging and frontier markets investment bank in 2010. First, having seen massive credit growth in developed markets (DM) drive up asset prices, it seemed likely that the DM story was over for years to come. Emerging markets, from Rwanda to Russia, with private sector debt at 10-50 per cent of GDP had room to boom.
2010年，我在两个想法的鼓动下加盟了一家新兴与前沿市场投行。第一个想法是，在大规模信贷增长推高发达市场(DM)资产价格之后，未来多年里发达市场似乎不会有戏了。相比之下，从卢旺达到俄罗斯，新兴市场的私人部门债务与国内生产总值(GDP)之比介于10%至50%，仍有繁荣的空间。
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