But sovereign funds have also learned the downside of deal-making: some of their blockbuster transactions have been big money losers so far.
The downside of these deals is that Groupon and LivingSocial cannot take advantage of their existing deal inventory and they have to actually provision participating merchants with iPhones and iPads so that they can accept the deals and Groupon/LivingSocial can track them.
The downside of the deal is that the two companies must split profits in what is shaping up to be a business that does not look as if it will produce many.
"The downside of this deal is that it removes an important source of cash flow for Global Crossing," said Michael Hodel, a telecommunications analyst with Morningstar, the mutual fund and stock analysis company.
The downside of this deal is that you have to trust that the company will act quickly when you ask it to update information.
First: Elevation has hedged its risky strategy of putting so much money behind a few bets by concocting a complex system of puts and convertible issues that limit the downside of its worse deals.
That is encouraging news.The final section of Mr Borio's paper is devoted to policy, particularly how governments should deal with the downside of the financial cycle.
The real enemy within, he says, is this bunch – what he calls the bien-pensants, the faux left, who never have to deal with the downside of immigration, and simply benefit from the cheap labour and pretty eastern-European nannies.
Jason Bateman, Hope Davis, Alexander Skarsgård, and Paula Patton star in this provocative, laudably serious film, written by Andrew Stern and directed by Henry-Alex Rubin, that intertwines three separate stories about ordinary people who deal with the downside of interconnectivity and social media, including ostracism, loss of privacy, and identity theft.
For every governor like Chris Christie looking to slash spending and keep taxes low in New Jersey, many more city and state government officials still refuse to deal with the downside of the modern welfare state: The very real fact that for years they've been living beyond their means, taxing businesses out of their states while they hand out lavish and unaffordable benefits to public employees.
