Serious investment thinking that doesn’t take itself too seriously.
How much of the yellow metal does the US actually have? Two rumours have been swirling around the gold markets for many years. Some have called them conspiracy theories. Others note that conspiracy theories often prove true. What’s the difference between conspiracy and truth? About 30 years. The...
"The Old Lady of Threadneedle Street” is the affectionate nickname of the Bank of England, as respected an institution as Britain ever had. Calling something as “safe as the Bank...
Centuries are a bit like late-blooming teenagers; they don’t really develop their full character until their mid-twenties. The electric, modern age of the 20th century didn’t...
I’ve taken part in industry events recently discussing target rates, discount rates, hurdle rates and their relationship to yields—partly in the context of the RICS recommendations on use of DCF in valuations following the Pereira-Gray report.
Silicon Valley Bank was at the right place, at the right time. We’re talking one-in-a-million here. SVB was founded in 1983 in Santa Clara, California, to provide financial services to technology and VC-backed companies.
My father always encouraged me not to join a political party, nor to reveal my voting preferences for fear of being unable to engage across the political spectrum.
Signs of slowdown, and some scepticism that AI capex will generate enough returns anytime soon A change to the zeitgeist, and it’s definitely gloomyhealthcare makes all the jobs,...
Distressed Office sales are the most common saleschecking in on vacancy and absorption ratesthe fabric of American life, forever changed (by longer distance living)not all...
As you know, I’m a techno-optimist. I particularly love AI and have huge hopes that it will dramatically improve our lives. But I am also concerned about its risks, especially:...
Housing and Taxation: The self over all others Whilst taxes levied on UK residential property are never out of season for the "water cooler conversation", the discussion is...