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<ul class="summary-list"><li><keyword id="494074" type="PERSON" weightage="60" keywordseo="Richard-Bernstein">Richard Bernstein</keyword> said rising long-term <keyword id="6371181" type="UNKNOWN" weightage="60" keywordseo="interest-rates">interest rates</keyword> could burst the bubble in the <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword>. </li><li>The investment chief told CNBC the stock market could be in the biggest bubble of his career.</li><li>He urged retail investors to diversify to protect their assets from the bubble bursting. </li></ul>Investment chief Richard Bernstein thinks if long term interest rates rise further, this could burst the bubble he sees in stock <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> today - which could be the biggest one of his career, he said. In an <a href="https://www.cnbc.com/2021/08/09/market-may-be-in-the-biggest-bubble-of-my-career-rich-bernstein.html">interview</a> on CNBC's Trading Nation, Bernstein said he believes investors have bought into long duration assets because of low long-term interest rates thanks to Federal Reserve policy, leading to a bubble in the stock market. Long-duration assets could include the far end of the Treasury yield curve, bitcoin, tech or even meme stocks, he said. "The Fed has so distorted the long-end of the curve that we are seeing a very natural reaction among long-duration assets which is then taking on a life of its own. And I think anybody who's out there in these long-duration assets has to be firmly convinced that long-term interest rates are not going to go up, because that's the kryptonite for this bubble," Bernstein said. "I personally think we are right in maybe the biggest bubble of my career," he added. Stocks have been rising for well over a year and hit record high after record high, as the US economy has recovered from the fallout of the COVID-19 pandemic. This has led to widespread talks of a bubble and many investment experts have been urging caution about the potential for a crash. Billionaire Jeremy Grantham's investment firm <a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-gmo-stock-market-outlook-bubble-valuations-tech-stocks-2021-7">GMO called the current environment a global growth bubble</a> last month, while 'Rich Dad Poor Dad' author <a href="https://markets.businessinsider.com/news/stocks/rich-dad-poor-dad-author-investors-prepare-terrifying-market-crash-2021-7">Robert Kiyosaki told investors to prepare for a market crash</a> and even retail traders agree, with <a href="https://markets.businessinsider.com/news/stocks/retail-investors-stock-market-bubble-etoro-inflation-hedge-2021-7-1030667722">40% of them saying there is a bubble</a> - but they do not believe markets will actually crash. Bernstein urged retail investors to diversify away from those highly frothy assets, while the market is still in a bubble and investing seems simple. "For the same reason we carry a spare tyre in our trunk, for the same reason we have a fire extinguisher in our homes, that's the reason why you have to diversify and when you get into a bubble, diversification becomes more important because we know the bubble is going to burst, but we don't know when," Bernstein said.

A rise in long-term interest rates will be 'kryptonite' for a stock market that is already 'in the biggest bubble of my career' investment chief Richard Bernstein says

<ul class="summary-list"><li>Russia was spotted last year covering aircraft with car tires, but the reason wasn't immediately clear.</li><li>A US military official said recently the tactic is a way to confuse systems looking for planes.</li></ul>Covering aircraft with tires, as Russia has done during the Ukraine war, can confuse weapons that are looking for the plane, a US military official said recently.Multiple Russian military aircraft, including fighter jets and bombers, were spotted last year with tires placed on top of them. The purpose wasn't immediately clear, leaving some room for various theories and speculation. While some observers suggested they might be meant to confuse image-matching weapons, others said they might be intended as shields.Schuyler Moore, the chief technology officer for US Central Command, said last week that this kind of unusual tactic can be used to confuse weapon systems that are looking for the plane."The sort of classic unclassified example that exists is like a picture of a plane from the top," Moore said during a Friday discussion on artificial intelligence and technology hosted by the Center for Strategic and International Studies think tank. "And you're looking for a plane, and then if you put tires on top of the wings, all of a sudden, a lot of computer vision models have difficulty identifying that that's a plane," she said.Russia was first <a target="_blank" class="" href="https://www.businessinsider.com/russia-using-tires-to-protect-bombers-from-ukraine-attack-report-2023-9">spotted placing car tires</a> on its Tu-95 and Tu-160 bomber aircraft last fall after a string of long-range Ukrainian drone attacks on its air bases. The development also came as it was reported that Kyiv had modified its Neptune anti-ship cruise missile to strike targets on land. Shortly after these images surfaced, a Russian Su-34 fighter-bomber was photographed <a target="_blank" class="" href="https://www.businessinsider.com/photo-russia-su-34-fighter-bomber-covered-with-tires-2023-9">covered with the same type</a> of tires.The War Zone, which first <a target="_blank" class="" href="https://www.twz.com/air/russia-covering-its-aircraft-in-tires-is-about-befuddling-image-matching-seekers-u-s-military-confirms">reported</a> Moore's comments last week, <a target="_blank" class="" href="https://www.twz.com/russia-really-is-using-tires-to-protect-its-bombers-from-attack">suggested in an earlier analysis</a> that the tires were most likely meant to break up the Russian aircraft's infrared signatures and confuse the targeting systems of certain inbound munitions. Moore did not specifically mention the Russian examples during the CSIS event, instead noting this approach as part of a broader discussion about AI-driven targeting.Some weapons rely on pre-set data and image matching to find targets. As AI and autonomous systems emerge, even in Ukraine, this could come into play even more, forcing evolutions.Moore said the adaptation on the systems side has to be quick; otherwise, an adversary may simply swap something else in to confuse the system again. One day it's tires. Maybe it's something else the next day.Deception has been a common practice throughout the war in Ukraine. Russia has turned to several different deceptive practices during the war beyond placing tires on its aircraft. For instance, Moscow has <a target="_blank" class="" href="https://www.businessinsider.com/satellite-images-russia-painted-fake-decoy-aircraft-fool-ukraine-weapons-2024-1">painted silhouettes of fighter jets</a> on the tarmac at different air bases in what analysts say is an inexpensive way to try and <a target="_blank" class="" href="https://www.businessinsider.com/images-fake-aircraft-popping-up-russian-bases-attempt-fool-ukraine-2024-2">confuse the targeting systems</a> of Ukrainian weapons.And Russia and Ukraine have both relied on <a target="_blank" class="" href="https://www.businessinsider.com/ukrainian-drone-video-captures-field-full-of-inflatable-russian-tanks-2023-9">decoy military equipment</a>, such as inflatable tanks, wooden rocket launchers, and fake radar reflectors, among other weapons.

Covering aircraft with tires the way Russia has can confuse weapons looking for the plane, US military official says

<keyword id="334749" type="General" weightage="50" keywordseo="icici-securities-ltd" source="Orion">ICICI Securities Ltd</keyword> on Wednesday said it is one-year forward Nifty target is 19,425 with a sectoral bias towards banks, capital goods/infrastructure and automobiles. It has suggested investors to avoid sectors like information technology (IT), oil and gas and metals as they have more global exposure. The company has recommended Axis Bank, City Union Bank, Apollo Tyres, Eicher Motors, Coforge, Lemon Tree Hotels, Healthcare Global Enterprises, Laurus Labs, Container Corp, and Havells India stocks as its Muhurat 2022 picks. In a report, <keyword id="46909" type="General" weightage="100" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword> said the year 2022 has been marked by volatility on account of a wide variety of global new flows ranging from geopolitical issues, higher inflation (mainly food and energy), and hawkish action of central banks. This has led to a decline in global equities, mainly in the US and <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>. However, India has relatively outperformed global peers in terms of all economic parameters (capex spend, discretionary consumption, robust pick-up in banking activity, etc), the report notes. The same is reflected across Indian equity markets. "Going ahead, we believe Corporate India will likely deliver earnings growth in excess of 15 per cent over the next two years given the current economic milieu and provide a plethora of investing opportunities in Indian markets," ICICI Securities said. However, sticky global inflation will keep central banks hawkish and India will be no exception. Similar implications for global liquidity flows may create medium-term volatility in Indian markets. However, if such a scenario materialises, then the same will be a strong opportunity to take exposure to Indian equities, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/financial-data-of-over-9-mn-cardholders-leaked-including-from-sbi-researchers/articleshow/94814538.cms">Financial data of over 9 mn cardholders leaked, including from SBI: Researchers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/these-are-the-5g-bands-supported-by-airtel-and-jio/articleshow/94814497.cms">These are the 5G bands supported by Airtel and Jio – make sure your phone has them</a>

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

A traveller’s worst nightmare is the car breaking down in the middle of nowhere. Instead of being dependent on cell phones and tow trucks to fix your issue, you might as well be prepared and keep a car air pump in your trunk at all times. Here’s a list of the best ones you can consider. <bulletContentEmbed name="B06XW683G2" columns="1"><bulletContentHeading name="B06XW683G2_head"> <div type="image" title="Market Favorite" msid="78776999" hostid="261"></div></columnHeadThumb>B06XW683G2</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B06XW683G2_body"><bulletContentRow name="B06XW683G2_5712573707076088"><bulletContentRowHeading><bulletContentRowHead col="1">Bergmann - Car Tyre Inflator</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The Bergmann tyre inflator has a 100% copper motor unlike other tyre inflators that have an aluminium motor. It’s an all-metal body that is not noisy or fragile. It can radiate all the heat that gets generated during compression which allows it to have a long life. You can inflate your car tyre in less than 3 minutes, and the analog gauge will give you accurate readings.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B06XW683G2_4166657891276259"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Bright LED light, anti-vibration rubber base, heat-proof rubber air hose.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B00XOKHMQI" columns="1"><bulletContentHeading name="B00XOKHMQI_head"> <div type="image" title="Top Pick" msid="78777046" hostid="261"></div></columnHeadThumb>B00XOKHMQI</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B00XOKHMQI_body"><bulletContentRow name="B00XOKHMQI_8765335516349853"><bulletContentRowHeading><bulletContentRowHead col="1">Michelin – Car Tyre Pump</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Michelin is one of the leading tyre companies that manufacture tyre service products too. This Michelin foot pump is designed to make the tyre inflation process very expedient and quick. It has a wide footprint steel frame that’s anti-skid, pedal locking hooks, and an anti-skid pad at the bottom. Also, it has a dual display gauge that will give you accurate readings in PSI and BAR units.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B00XOKHMQI_3142899929919984"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">High pressure piston, premium quality pipe and ergonomic design.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07P9JDK6G" columns="1"><bulletContentHeading name="B07P9JDK6G_head"> <div type="image" title="Popular" msid="78777068" hostid="261"></div></columnHeadThumb>B07P9JDK6G</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07P9JDK6G_body"><bulletContentRow name="B07P9JDK6G_5754640704136023"><bulletContentRowHeading><bulletContentRowHead col="1">iBELL - Heavy Duty Tyre Inflator</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">The iBell car tyre pump has a solid metal air compressor. The LED light and anti-vibration rubber base make it easy for you to use it undisturbed. The 180W copper motor allows it to radiate maximum heat and hence this inflator will not weaken. The cord is 3 meters long, so it will easily reach all tyres after being plugged into the cigarette lighter panel.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07P9JDK6G_9348712566730932"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Dual mode LED light. Analog pressure gauge, compact and portable.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B07FQ6QYF7" columns="1"><bulletContentHeading name="B07FQ6QYF7_head"> <div type="image" title="Editor&amp;#39;s Choice" msid="78777076" hostid="261"></div></columnHeadThumb>B07FQ6QYF7</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B07FQ6QYF7_body"><bulletContentRow name="B07FQ6QYF7_1217083148309204"><bulletContentRowHeading><bulletContentRowHead col="1">Amazon Brand - Solimo Portable Tyre Inflator</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">This Solimo tyre inflator is soon catching the eye of many consumers in the market. It is a high-performance inflator that will inflate your tyres in just 5 minutes. Works on the 12V power supply that is generated by the cigarette panel, this tyre pump has a long wire and hose, and an LED bulb to ensure a smooth air-filling process.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B07FQ6QYF7_0473149364966676"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Not noisy, pin for inflating football included, accurate analog gauge, and has a safety valve too.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed> <bulletContentEmbed name="B074DDJFTH" columns="1"><bulletContentHeading name="B074DDJFTH_head"> <div type="image" title="Most Convenient" msid="78777156" hostid="261"></div></columnHeadThumb>B074DDJFTH</columnHeadTitle></columnHead></bulletContentHeading><bulleteContentBody name="B074DDJFTH_body"><bulletContentRow name="B074DDJFTH_4904119260025066"><bulletContentRowHeading><bulletContentRowHead col="1">AmazonBasics - Digital Tyre Inflator</bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">AmazonBasics brings you a car tyre inflator that is compact and very portable. You can keep it in the back of your car at all times. It’s ideal for two-wheeler tyres too. It has an LED light and a digital gauge for your convenience. The power cord can be plugged into the cigarette lighter port. Also, the power cord and air hose are long enough to reach all tyres.</bulletContentRowCell></bulletContentRowBody></bulletContentRow><bulletContentRow name="B074DDJFTH_9720847780815383"><bulletContentRowHeading><bulletContentRowHead col="1"></bulletContentRowHead></bulletContentRowHeading><bulletContentRowBody><bulletContentRowCell col="1">Easy to read gauge, suitable for tyres with 120 PSI rating, and comes with a case.</bulletContentRowCell></bulletContentRowBody></bulletContentRow></bulleteContentBody></bulletContentEmbed>

Never run out of air with these car air pumps

The US remains the top destination for <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s engineering goods exports in the financial year 2022-23 with total shipments value recording 6.8 per cent year-on-year growth to USD 18.67 billion. The other key markets, which registered positive growth, include the UK, Germany, Singapore, Saudi Arabia, Mexico, and Indonesia. Exports of engineering goods to China continued a downward trend month after month. In FY23, engineering shipments to China fell by 52.4 per cent year-on-year to USD 2.63 billion from USD 5.53 billion in the previous year. The other top markets that recorded negative growth during the year included UAE, Turkey, and Thailand. After reaching their all-time high at USD 112.16 billion during fiscal 2021-22, engineering exports from India finished fiscal 2022-23 at USD 107.04 billion, a decline of 4.57 per cent. In terms of the <keyword id="6355302" type="General" weightage="80" keywordseo="rupee" source="Orion">rupee</keyword>, however, engineering exports recorded 2.77 per cent growth year-on-year. This disparity was due to the substantial year-on-year depreciation of the rupee vis-a-vis the US Dollar in 2022-23. Geo-political crisis in the CIS region led by the Russia-Ukraine war, the economic slowdown in North-East Asia especially China, the crisis in South-East Asia, and the slowdown in Europe are the major factors responsible for the lower shipment of engineering goods from India during FY23. "The decline was a direct result of the depressed global demand, especially in the metal sector. FY23 in general has been a difficult year for global trade. While the end of FY22 marked the recovery from the COVID pandemic it was soon overshadowed by the Russia-Ukraine crisis which dented the European and Central Asian economies to a significant extent," said EEPC India Chairman Arun Kumar Garodia. He further said the decline could have been sharper if timely government measures had not been made. "We appreciate the efforts made by the Ministry of Commerce which has always been forthcoming in coming up with relief measures. Besides, the encouraging words by Hon'ble Prime Minister <keyword id="2082035" type="General" weightage="50" keywordseo="shri-narendra-modi" source="Orion">Shri Narendra Modi</keyword> have had a catalytic effect. We are grateful for the launch of the Foreign Trade Policy 2023 which covers all important aspects of trade including ease of doing business, introduction of Rupee trade, including the states and the districts in export strategy, export incentives, and infrastructure and logistics," said Garodia. According to the Quick Estimates of the Commerce ministry of the Central government, the share of engineering exports in India's total merchandise exports during fiscal 2022-23 was 23.92 per cent as against a higher 26.58 per cent in fiscal 2021-22. Panel-wise analysis showed that out of 34 engineering panels, 22 recorded growth in exports during 2022-23 while 12 conceded a decline in shipment. <keyword id="953254" type="General" weightage="80" keywordseo="iron-and-steel" source="Orion">Iron and steel</keyword> were the main spoilsports behind the decline in engineering exports with a 41.52 per cent decline in exports during 2022-23 over the previous fiscal. Excluding the iron and steel panel, engineering exports in 2022-23 recorded 4.91 per cent growth over the previous fiscal. Among the major panels, 'Motor Vehicles/Cars', 'Products of Iron and Steel', 'Electric Machinery and Equipment', 'Industrial Machinery', "Medical and Scientific Instruments', 'Ships, Boats, and <keyword id="1992685" type="General" weightage="50" keywordseo="floating-structures" source="Orion">Floating Structures</keyword>' and 'Auto Components/Parts' recorded higher shipments over the previous fiscal while basic metals like Iron &amp; Steel, 'Aluminium and products' and 'Copper and Products' recorded a decline in shipments. Indian engineering exports continued to decline for the fifth straight month to March 2023 and for eight months in fiscal 2022-23. During March 2023, engineering exports declined by 7.49 per cent to USD 10.19 billion from USD 11.01 billion in March 2022. As many as 16 out of 34 engineering panels witnessed positive year-on-year growth in March 2023, while the remaining 18 panels witnessed negative growth in exports. Major engineering products like Iron and Steel, Products of Iron and Steel, Aluminium and products, Industrial Machinery, Electrical Machinery and Equipment, Two and Three wheelers, Bicycle parts, Auto Tyres, and Hand tools witnessed a decline in exports during March 2023 vis-a-vis March 2022. Excluding the export of iron and steel, engineering exports recorded a 3.26 per cent year-on-year decline in March 2023. Global trade sentiments continue to remain bleak, WTO economists in April 2023 said in a new forecast that merchandise trade is expected to grow 1.7 per cent as against 2.7 per cent last year. The subpar performance will be mainly due to the Ukraine crisis, high inflation, tighter monetary policy, and financial market uncertainty. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/bengaluru-localities-see-the-highest-surge-in-residential-rents-in-q1-2023/articleshow/99640732.cms">Bengaluru localities see the highest surge in residential rents in Q1 2023: Anarock</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/on-camera-crimes-society-celebrating-them-worries-criminologists/articleshow/99640707.cms">On-camera crimes &amp; society celebrating them worries criminologists</a>

India's export of engineering goods to US grows by 6.8%, China's falls by 52.4%

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Bahrain, India's <keyword id="731838" type="PERSON" weightage="20" keywordseo="Jehan-Daruvala">Jehan Daruvala</keyword> on Sunday recorded his first Formula 2 victory after winning the Sakhir Grand Prix sprint race as <keyword id="2546078" type="PERSON" weightage="20" keywordseo="Mick-Schumacher">Mick Schumacher</keyword> won the 2020 <keyword id="6371411" type="UNKNOWN" weightage="20" keywordseo="championship">championship</keyword> despite finishing 18th. Daruvala, 22, had a good launch from second on the grid and was up alongside pole sitter Daniel Ticktum. Tictum squeezed Daruvala on the inside which allowed championship leader Schumacher to go around the outside of both of them. Eventually, Ticktum emerged in the lead, followed by Schumacher and Daruvala in third. A few corners later, Daruvala made a good move to pass Schumacher and get into second. The pair battled for a few laps for the position with Daruvala going back to third and passed Schumacher again a few laps later to regain the position. He eventually managed to put distance on the German, who will race in Formula 1 for Haas next season, and caught the race leader. Daruvala kept the pressure on Tictum who defended well until finally losing the position for the first time to the Indian with 10 laps to go. He kept out Tictum and eventually put distance between the two cars to take the chequered flag in the lead. His Red Bull Junior teammate Yuki Tsunoda was second, over 3.5 seconds behind Jehan, while Ticktum was third. "Motorsport is pretty big in India. We obviously have a lot of people, so I have a big fanbase back home. My goal at the end of the day is to do myself proud but also do my country proud and to prove to people back home that even though we don't have the same facilities and stuff that guys have in Europe, as long as you can work hard you can fight right at the sharp end of the grid," said an elated Daruvala. Schumacher had to drop out of the points contention due to a pit stop forced by damage on the tyres caused by an early lock up. Luckily for him, he held on to his 14-point lead at the top of the championship table after main rival Callum Ilott also failed to score any points. Schumacher clinched the title with a total of 215 points, 14 ahead of Ilott. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ultratech-cements-5477-crore-expansion-plan-is-a-sign-that-birla-is-betting-on-a-faster-economic-recovery/articleshow/79549626.cms">UltraTech Cement's ₹5,477 crore expansion plan is a sign that Birla is betting on a faster economic recovery</a> <a href="https://www.businessinsider.in/tech/news/sbis-mobile-banking-app-is-down-for-the-third-time-in-last-30-days/articleshow/79548953.cms">SBI’s mobile banking app is down for the third time in 30 days — digital services take a hit for the 25th time this year</a> <a href="https://www.businessinsider.in/policy/economy/news/rbi-governor-shaktikanta-das-believes-that-inflation-is-likely-to-remain-elevated-in-the-winter-months/articleshow/79559454.cms">RBI governor believes inflation is likely to remain elevated this winter</a>

Jehan Daruvala records his first Formula 2 victory, becomes the first Indian to win an F2 race

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Toru HanaiA Red Bull Formula One mechanic checks air pressures of tyres in front of a Swiss bank UBS sign at the pit lane at the Suzuka circuit</div></div></div>The world has changed pretty dramatically in the past 12 months.We've moved from an era of globalization to one of nationalism and populism. There has been a shift from fears of stagflation to one where inflation is the buzzword. <a href="http://markets.businessinsider.com/news/stocks/bank-of-america-sums-up-the-huge-change-taking-places-in-markets-2017-2-1001760921-1001760921">Davos Man has lost the ascendancy, and now Joe Six Pack</a> is in charge.We've also moved from a world where banks, and their investor clients, manage risk, to one where they manage uncertainty.That is a critical difference, according to Andrea Orcel, president of UBS' investment bank. Whereas risk can be modelled, hedged, and planned for ahead of time, uncertainty arrives out of the blue. Business Insider <a href="http://www.businessinsider.com/andrea-orcel-ubs-bi-interview-2017-2">recently sat down with Orcel</a>, and asked whether the market had priced in some of the risks that go with protectionism. In response, Orcel said that the market probably hadn't priced in the risks, and that the trading environment had undergone a broader shift.He said:"What I think is more interesting is, as an industry, we have moved from trying to manage risk - where you prepare for it, you have historic series, you have hedges, you make decisions, you debate them, you plan for different scenarios - to managing uncertainty. Uncertainty is very different. Uncertainty is, 'OK, there's going to be an election. Is Brexit going to happen?' How do you judge that? If it happens, what's the consequence? How do you hedge? How do you price for actions as a result of a tweet or a throwaway comment without getting it wrong? "It's very difficult to position your trading book - or position the bank versus client activity that is going to be coming - for events that you're just rationalizing. It's not a mathematical equation, and when they happen, you're just rationalizing what the market will do, and actually the market does the opposite. Everywhere we have this and are likely to see a lot more of this." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/best-worst-place-raise-family-city-states-cities-live-2017-2">Animated map shows the best and worst states to raise your family</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="83NWZlOTE62q0tRgp5aUgHFP4ziFKtGd" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "tyre inflators" and got 10 results

Best tyre inflator for car in India

Ayush Mehrotra

Best electric car tyre air pump

Shradha Aneja

A rise in long-term interest rates will be 'kryptonite' for a stock market that is already 'in the biggest bubble of my career' investment chief Richard Bernstein says

Sophie Kiderlin

Covering aircraft with tires the way Russia has can confuse weapons looking for the plane, US military official says

Jake Epstein

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

IANS

Never run out of air with these car air pumps

BI India Bureau

India's export of engineering goods to US grows by 6.8%, China's falls by 52.4%

ANI

Best car vacuum cleaner in India

Shradha Aneja

Jehan Daruvala records his first Formula 2 victory, becomes the first Indian to win an F2 race

IANS

The head of an investment bank explains how Trump, Brexit, and the rest have changed trading

Matt Turner

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