the scale of the policy response to these challenges skews the balance of risks
English translation: Outlook for equities is more positive, on balance
| 22:18 Apr 2, 2003 |
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|  Selected response from: Ralf Lemster Germany Local time: 12:58 | ||||||
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| 5 | The problem with the policy response to these challenges is that it is disproportionate. |
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| 5 | a graphic explanation |
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| 4 | Outlook for equities is more positive, on balance |
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Answers
9 mins confidence: 
The problem with the policy response to these challenges is that it is disproportionate. Explanation: You know the idea of "proportional response." Big challenge, big response. Here, the writer thinks that the policy response is disproportionate, but does not say whether is is disproportionately big or disproportionately small. The writer thinks that the policy response, being of a disproportionate scale, indicates (or gives) an unrealistically positive view of the risks involved in equity trading in 2003 as compared with the each of the previous 3 years. Fuad |
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10 mins confidence: 
Outlook for equities is more positive, on balance Explanation: Hi Carmen, Pity you didn't specify which challenges this is about. I take "policy response" to refer to monetary policy, most likely the scale of Fed easing after 9/11 and in view of economic problems. Assuming this is the correct context, the extent to which interest rates have come down (and, given the currently relaxed stance of monetary and fiscal policy in the US, are likely to stay there) has built up sufficient counterbalance to compensate for risks equity positions are exposed to (in the current environment, particularly the risk of recession and the looming uncertainty given the war in Iraq). Weighing the various risk factors against each other (probably in a model) appears to indicate that on balance, you can be more positive about equities than in 2000-2002 (Given the fact that markets have come down quite some way, that's probably not too difficult either...) HTH - best regards, Ralf |
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49 mins confidence:
a graphic explanation Explanation: That said, the scale of the policy response to these challenges skews the balance of risks in favour of being more positive about equities during 2003 than in each of the last three years. The extent/level of response by the powers that be (to the chalalneges, whatever they were) would seem to indicate a more positive outlook for equities in 2003 as compared to the previous 3 years What you might call a 'mental w***'! Especially the 'skews the balance of risks in favour of .... positive' As a mental image, imagine a horizontal line going from less risk (left) to more risk (right), now shift towards the left, there is still risk but it's less thus things are looking positive since teh risk is reduced Best of luck, Carmen! |
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