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You do know that City of London (separate entity from London) is the Financial Capital of the world (a clear cut above New York or Hong Kong)? 1/5 sounds correc
by dosgonlogs 10y ago
You do know that City of London (separate entity from London) is the Financial Capital of the world (a clear cut above New York or Hong Kong)? 1/5 sounds correct to me, if maybe even a bit too low. You completely underestimate the amount of global investors that would choose British Mutual Funds for their portfolio on account of the above fact.
- towlejunior 10y agoI'm familiar with the moniker. I don't contest it. I still don't believe it represents 20% of global wealth. For one thing, if 20 trillion GBP, twice the U.S. GDP, had left the global economy in a week's time, we wouldn't even need to argue the point. It would be the only story on the news.