A few years before the financial crisis, Ajay Kapur started advising investors to bet on the rich. He now says it may be time to unwind that trade. In the mid-2000s, Kapur and his then-colleagues at ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Robert Kelly is managing director of ...

Cambridge, MA – The Occupy movement has been an extremely exciting development. Unprecedented, in fact. There’s never been anything like it that I can think of. If the bonds and associations it has ...

We are closing in on the 20th anniversary of one of the most revealing pieces of bank analyst research in recent American history. On October 16, 2005, Citigroup released an “industry note” for ...

The capitalist mode of production represents a radical break from traditional methods of organising economic activity. Because it has taken extremely diverse forms and evolved in complex ways over ...

Has the American economy turned into a “plutonomy”? In 2005, three Citigroup analysts — Ajay Kapur, Niall MacLeod and Narendra Singh — answered yes. They explained: “Plutonomies have occurred before ...

Plutonomy refers to the rich, those who buy luxury goods and so on, and that’s where the action is. They claimed that their plutonomy index was way outperforming the stock market. As for the rest, we ...

On the history of the US economy in decline. By signing up, you confirm that you are over the age of 16 and agree to receive occasional promotional offers for ...

The optimistic case for economic growth masks who those benefits might be reserved for. This is The COVID-19 Daily Report for January 5, 2021. Matt Yglesias has been one of the primary outliners of ...

It has been more than five years since equity strategist Ajay Kapur introduced the idea of a " plutonomy"--an economy dominated by the spending and consumption of the wealthy. Since then, plutonomy ...