In this issue:

• What Is Investment Research For?

• China’s Too-Big-To-Fail Developer

• Taiwan’s Challenging Economic Neutrality

• Recycling vs Monopoly

• The Unhedgeable Bound

• Measuring the Housing Boom

• Liquidation

What Is Investment Research For?

The sell-side investment research business is built on a contradiction: it’s designed to tell professionals how to do their …