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Bailey McCann, Opalesque New York:

Leaders in economics and alternative investments have gathered in Carlsbad, California for the Altegris Strategic Investment Conference. Now in its tenth year, Altegris, a liquid alternatives firm, in partnership with Mauldin Economics brings together economists, hedge fund managers and investors to discuss the financial landscape. Day one featured remarks from Niall Ferguson, Jeffrey Gundlach, Nouriel Roubini, and Mohamed El-Erian among others.

Speakers varied slightly in their views on the current state of world markets, but they were all unified around the idea that the current generation is selling out their children. Niall Ferguson opened the day, and first advanced this thesis, saying that the contract between the generations has been broken. He also spoke of a broader decline across generations of involvement in interpersonal networks. He explained that these loose networks around professional and personal identifiers have a positive effect on civil society and help people solve issues for themselves. However, now that very few people in the US or Europe belong to such groups, "civil society is in free fall."

The theme came up again during a lively question and answer period with the audience, which saw Jack Rivken, former Executive Vice President, Chief Investment Officer and Head of Private Asset Management of Neuberger Berman, suggest CEOs write annual reports to their children in addition to writing annual reports f......................

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