Carried away

摘要

If you were charitable, you would say it had the elegance of simplicity. If you weren't, you'd call it obvious. The "carry trade" is, however, one of the most talked-about trading strategies of recent times. The favourite subject of the masters of capitalism has much in common with the dinner-table topic of choice in large parts of the English-speaking world: making money from the property market. Both involve borrowing cheaply to buy something with a higher expected return. The carry traders, however, have travelled further than housebuyers in pursuit of lucre.