“The Plutonomy Symposium “, Citigroup
Here is the copy from the cover of a 64 page report on plutonomy issued by Citigroup 0n 29 Spetember 2006.
The Global Investigator
The Plutonomy Symposium — Rising Tides Lifting Yachts
➤ Time to re-commit to plutonomy stocks – Binge on Bling.
Equity multiples appear too low, the profit share of GDP is high and likely going higher, stocks look likely to beat housing, and we are bullish on equities. The Uber-rich, the plutonomists, are likely to see net worth-income ratios surge, driving luxury consumption.
Buy plutonomy stocks (list inside).
➤ Plutonomy stocks at a premium, but relative pricing power is key.
➤ Our Plutonomy Symposium take-aways.
The key challenge for corporates in this space is to maintain the mystique of prestige while trying to grow revenue and hit the mass-affluent market. Finding pure-plays on the plutonomy theme, however, is tricky.
➤ Plutonomy and the Great Conundrums of our age.
We think the balance sheets of the rich are in great shape, and are likely to continue to improve. Don’t be shocked if the savings rate worsens as equities do well.
➤ What could go wrong?
Beyond war, inflation, the end of the technology/productivity wave, and financial collapse, we think the most potent and short-term threat would be societies demanding a more ‘equitable’ share of wealth.
Global — The Plutonomy Symposium — Rising Tides Lifting Yachts ……..7
U.S. — Calibrating 2007 Targets …………………………… 21
Europe — Avoiding the Mega-traps…………………………………….. 27
Japan — Birth of the Abe Administration ………………………. 31
Asia-Pacific — If It’s Due to Speculation=Bullish;
If Due to Weaker Growth=Bearish………………………………………… 37
Latin America — Think Small………………………………………43
Citigroup Global Markets
Equity Strategy
September 29, 2006
Bloodsucking parasites.
Where is the actual link to the Citigroup report?
This whole document appears to be important. Could you please supply a link we could use to access the original document? Links were provided for the 2005 documents. Thank you.
Here is the copy from the cover of a 64 page report on plutonomy issued by Citigroup 0n 29 Spetember 2006. Where is it???
Citibank works hard to kill links to the plutonomy reports so they only have a limited life. I’ll see if I can find a live one.