Pillars of growth

“The new Icelandic upstarts are a heterogeneous lot but not a single entity that stands or falls together. Some will fail and some will succeed. The Icelanders are not putting all their eggs in the same basket and stand a good chance of developing a handful of multinational enterprises that will prove to be pillars of growth in the near future.”

From Kaupthing’s head of analytics Asgeir Jonsson’s presentation in March 2006

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4 Responses to “Pillars of growth”


  1. 1 Roy January 15, 2009 at 12:49 pm

    See, I told you that Ph.D would come in handy some day!

  2. 2 Roy January 15, 2009 at 12:53 pm

    See, I told you that Ph.D would come in handy someday!

  3. 3 Seba January 15, 2009 at 4:34 pm

    Max Kaiser took an interview with him in summer 2007:

  4. 4 Vilhjalm A. January 15, 2009 at 7:23 pm

    That pamphlet now looks like a cruel joke. It belongs in some museum of financial tulip schemes, alongside the Albanian bank ledgers of the late 90’s, the Enron corporate reports, and the stockbrokers’ buy recommendations on Amazon and the internet “incubators” in the year 2000.
    Apparently it was written in March 2006 as the banks were running out of money, which makes it even more absurd.
    Maybe New Kaupthing can re-issue this pamphlet on the Icelandic “miracle” with photos of Icelanders standing in soup-lines and Jon Asgeir’s 101 yacht in the Cayman Islands.

    “The elasticity of the Icelandic economy is greater than in its larger counterparts in Europe, although it would be preferable if it were less stretchy at times.” Lol.


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