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Within days of Britain’s EU referendum vote, the country’s largest property unit trusts had closed to redemptions and slashed their asset values, or both. The promise of easy redemption resembled the umbrella that is recalled when it begins to rain. Open-ended property funds are not fit for purpose as retail investment vehicles. Perhaps it is time to query the dominance of open-ended vehicles in the savings market more generally.
On July 6th, at Gresham College, John took part in a debate on the theme: "What is the value of finance and insurance to...
Those who cannot remember the past are condemned to repeat it. -- George Santanyana First, a quiz: Match the three authors with the three quotations which follow ...
Listen to John discuss with Mike Baliman the truly vast potential that still exists for Fintech to disrupt financial services.
Buffett's method is to find well-run companies and give them more freedom than they would enjoy on public markets. Yet other conglomerates use financial engineering and impose “transferable” management skills.
Recent stumbles by Bernie Sanders illustrate a misdirection in his attack on the banking establishment. The central problem is not so much “too big to fail” but “too complex to fail”.
JPMorgan and Deutsche Bank account for about 20 per cent of total global derivatives exposure. The risks associated with these exposures are largely netted out. But how well? Your guess is as good as mine, and probably not much worse than those in charge of these institutions.