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The Financial Markets Group


Lionel Robbins Building, 4th floor

London School of Economics & Political Science

Houghton Street

London WC2A 2AE

United Kingdom


Tel: +44 (0) 207 955 7002/6301

Fax: +44 (0) 207 852 3580


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News and announcements

The most current articles and announcements related to the FMG, its staff and its associates are posted here.

Older articles can be found by clicking on the relevant headings below or in the left hand column.



New working paper highlights the 'Curse of the Benchmarks' in financial markets

A new working paper by Dimitri Vayanos and Paul Woolley suggests that using stock market indexes as benchmarks of investment performance causes most of the problems associated with asset pricing and asset management: risk/return inversion, short-termism, bubbles and crashes, and  low returns. Intriguingly, momentum funds game benchmarked funds and exacerbate the distortions.
Read the paper.

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Media articles by FMG staff   

Viktor Orban uses migrant crisis to shore up his sagging popularity, September 2015

Dr Simeon Djankov examines Hungary's response to the migrant crisis, and suggests Prime Minister Viktor Orban is exploting Europe's weak response.


In the news 

Breaking the 'curse of the benchmarks

Irish Times, April 2016

Institutional investors’ obsession with short-term performance means money managers are engaging in activity that is “not merely superfluous but wealth-destroying”, causing bubbles, crashes and financial market dysfunction. So says former fund manager Dr Paul Woolley of the FMG.