Saturday, 9 November 2013

Dave Giles' Blog: The Stock Market Crash...

Hi everyone and good to be back on my Investment Case. This post concerns the repost of one of the best blogs on Blogger on economic and Investment issues. I am talking about Dave Giles Econometrics Beat which I occasionally already repost. This time it is inevitable given the quality and importance of the link below that I think will be informative and to the benefit of anyone with an interest in Econometrics or Economic issues and specially keen on knowing all there is to know about the problems related with Stock Markets Crashes and subsequent Financial and Economic Crisis! Definitely a good read.


Econometrics Beat: Dave Giles' Blog: The Stock Market Crash - VECM's & Structural Break...: A few weeks ago, Roger Farmer kindly drew my attention to a recent paper of his - "The Stock Market Crash Really Did Cause the Great R...

Friday, 9 August 2013

Securities Lending

In the Investment Management universe of businesses the Securities Lending sector is an important part of whole sector. I present in this post a video from Global Custodian Magazine, which is a publication dealing with the Custodian, Private Banking and Investment Management sectors generally. It features an interview with Simon Lee senior vice president for Business Development EMEA eSecLending in which is discussed recent trends in securities lending industry. I would highlight the new regulatory framework for the industry, that may bring greater clarity and transparancy; hard issues like indemnification, that is an increasing cost to these industries but with room for innovation and development, and other issues.



This industry plays an increasingly important role in the Financial Services industry, and was one of the protagonists of the Financial Crisis. The major changes going on on the whole Investment Management industry is in some part a proper response to the events of the Crisis, like the issues related to Clearing, Repurchase Agreements, Central Counterparties, Risk Management and so on. These changes hopefully will restore the good reputation of the industry, the competiteveness and quality of the services delivered and of course being a healthy source of business opportunities.


Thursday, 8 August 2013

Thursday, 1 August 2013

'' I am a Canadian in London....''

Despite the humorous and fancy title of this post, it is a serious take on the new Governor of the Bank og England. Mark Carney, which is a Canadian born Economist and a reputed banker is taking over Sir Mervyn King in the command of the ''Old Lady of Threadneedle Street''. We all which him well. But to begin with, Mr.Carney won't surely have an easy and handsome time in the years ahead, and for sure the prescriptions for the UK economy will not be the same as other advanced economies like the US or the Eurozone.




As the featured video in this post from FT's correspendent Chris Giles in talk with John Authers notes, Mark Carney will face a conumdrum dealing with his new remit for the Bank of England. On the one hand Mr. Carney will be willing to taper the ongoing monetary stimulus of the Bank to the economy, which still faces low growth figures, but on the other hand he will be advised not to take same prescription of his counterparts from the FED, and looking at this problem from the point of view of the trade-off between the level of employment and Economic growth.

The two FT's columnists and reporters quite righlty indicate to us all the nonlinearity in the relationship between employment or unemployment figures and the Macroeconomic variable of the variation in Growth Domestic Product. In the UK economy, even if the Growth figure is pretty dismal or negative, the employment data has been resilient and strong.

That said, Mr. Carney might well be tempted to target in his policy framework the level of nominal GDP, and not the real GDP figure and be able to sort himself out of one of his remit conumdrums. Along the way he will certainly enjoy the magnificent City of London.

Wednesday, 31 July 2013

Security Data Edge

In our times of Big Data for big rewards, at least potentially, there's also the threat of big security issues surrounding that massive wealth of information. This videos highlights this and reminds us all to the need for security. FT's Connected Business talks to Vijay Raghavan, Chief Technology Officer at LexisNexis and this companny approach which tries to strike a balance between the security needs of Financial Services  companies and the required and mandatory privacy of customers.

Friday, 26 July 2013

FT on the Insurance Industry: a Webinar

The Link below gives acess to a Financial Times Webinar on the Insurance Industry that took place in the begining of this Month of July. An important part of the financial sector, this industry was particularly affected by the Financial Crisis and is trying to regain ground amidst greater difficulties. A good and knowledgeable panel is always certainly a contribution to the debates on the future of the Insurance Industry!

London Webinar | Calendar | FT Live

Wednesday, 24 July 2013

Opalesque TV on Reinsurance

I confess on this post that I from time to time - maybe daily at the moment - receive e-mails from Fund Management publications like Opalesque. Matthias Knab is a major editor in this publication that occasionally also sends e-mails directly to my mail box with updates from this Swiss specific publication. I present here a video in which Matthias talks with Joe Taussig CEO of Multi-Strat Holdings about why the great Fund Managers of all time as well as some prominent Hedge Funds set a Reinsurance Business. He explains the superior returns of this business relatively compared with traditional Insurance, by the manner in which so called 'Float' premium received by re-insurers is properly used to invest elsewhere and only later the business needs to pay the cost of Insurance. But he warns also that the performance isn't equal for every Fund, which tells us that experience and the right strategy continues to matter. Nevertheless it is a reminder of why the Fund Management is so competitive and the way that, and in times of difficult to get low returns, the industry should strive to get the necessary alternatives.
Mr. Taussig takes also the opportunity to reveal the way Multi-Strat Holdings will in the near future - rest of this year and next years - set its strategy concerning deploying 1 Manager a month, and in 2014 onward 2-3 Managers a month in more of an Asset Management framework, and explains the more competitive and receptive playing field for this kind of business in cities like New York or London compared to European Financial Centers.


Monday, 22 July 2013

John Kay FT Comment

It is with a mix of emotion and praise that I post here this video depicting  Dr. John Kay's comment about Quantitative Easing and our current Economic predicament. Since I was living in the UK, I tried always to read and check Dr. Kay' work and articles. He is a respected and listened economist. And quite so that it couldn't disappoint with his take on the paradoxes about the current economic policies in place to deal with the consequences of one of the major Financial & Economic downturns of our recent History. Interesting to think and reflect about the bad balance achieved so far between Fiscal Stimulus, Quantitative Easing, Monetary Policy and the urgent need for Investment and Growth. The results speak for themselves, and the savvy but gentle warning of John Kay just add value to the judgement of all.



Really impressive to me is the recognition of the paradox that, despite our economies are living with real negative interest rates (which is a form of Government subsidy), the so called needed Investment on Infrastructures and sectors of the Economy vital and Strategic to long term Growth aren't taking off. What it all seems instead is that the QE money is being wasted or hoarded by the Financial System. It begs the question: Where do we go from here?!

Green Investment in Brazil

The videos in this Post are promotional clips from the Company Energy Crops Brazil. By a fortunate happening, this company has a Facebook page that is an active member of a Group of that Social Network that deals with Investment Issues called Investment thinkers, and of course a group that I am a member as well! Hope that it is to the enjoyment of everyone and a possible spark for future Green Energy Investments in Brazil or elsewhere.



These videos are part of a list organized by Energy Crops Brazil. It is actually visible the legend in the previous clip that there are 41 videos in the List.



There is space in this Post to present three of them. Check them all here.

Friday, 19 July 2013

Occasional Dividends

From time to time I will post some interesting and opportune updates on posts from Blogs and networks dealing with Stock Dividends and Investing in Stocks that might be good value for investors interested in this kind of Investment! One of these is the Blog from Blogger The Div-Net from which I occasionally receive e-mail updates. This first suggestion concerns Wells Fargo & Co, an American Bank that is rightly associated with good value investing:

Wednesday, 17 July 2013

Credit where it's due

A very nice conversation is presented in this post between FT fm and Graham Nielson from London based Credit Manager Cairn Capital. We learn about what is going on in the Bond Markets, the thin value in the Credit Markets due to Quantitative Easing and the opportunity created by investor sell-off of complex structured products in a liquidity squeezing environment. When someone exits a Market, someone else will fill the void. That's just logic in the Markets as well as elsewhere....:

António Horta-Osório

The recent Euromoney prize 'Best Banker of the Year Award' attributed to my compatriot António Horta-Osório is certainly well deserved. During the years 2005-2011 I was living in the United Kingdom. When I arrived in London, I acknowledge that Mr. Horta-Osório was already responsible for the Santander Business there and its acquisitions of Building Societies like Abbey or Bradford&Bingley at the time. I was looking in the press for some of the developments (I confess with some distance anyway...). Then there was the momentous shift to the Lloyd's Group command, and then I took a closer look. I was (and still am) a Lloyd's Customer!
It is absolutely wonderful, specially when you are an immigrant in a foreign country to pay testimony to the success of someone from your own Country; that feeling is great and something that Mr. Horta-Osório could manage to give for free to every Portuguese living in the UK. Of course he had to Manage much much more serious business than that and he delivered, despite some complicated setback in the fall of 2011 and the very begining of 2012, when he fell out with Psychological Burnout Stress due to excessive workload, that I was able to accompany through the press there and already in Portugal. He was able to get through and to get to this date still as CEO of the Lloyd's Group and receive this prestigious Prize. Congratulations to Mr. António Horta-Osório and to all Portuguese Executives all around the World! The Euromoney receiving speech video can be watched here

Buchanan on a Steve Keen's article

The Physics of Finance: Steve Keen on economic self-cannibalism: Great article by Steve Keen, reflecting on 40 years of change as traditional neo-classical economics has become less important and less inf...

Buchanan on Econophysics again


From time to time I will Reblogg posts from Mark Buchanan's The Physics of Finance:
The Physics of Finance: The Wall Street Journal weighs in on "econophysics...: Michael Casey has written a nice short essay in the Wall Street Journal on the topic of econophysics, and more generally the physics-inspir...

US dollar bull run

Big Data and stupidity may sometimes be positively correlated. But, and as long the analysis is good and robust enough, the data is certainly the best guide to decision-making in economic and markets settings. Following last week sell-off of the US Dollar it shouldn't be a surprise the bull run of this week, if only investors properly look at the recent economic data, and realize that everything is in favor of the Dollar appreciation. David Bloom, the global head of Forex Research at HSBC, rightly tell us in the presented conversation with  Authers Note of the FT that the Dollar story is the main driver of the Markets in pretty much any asset class, facts to be considered when allocating Capital for the near future.

EU Shadows

Confirming all that investors are thinking about the political challenge across the European Union, the recent influential voices correctly point the seriousness of the Political dysfunction of most of the European Countries composing the Single Currency Euro. Credit analysts in the Global Banks are rightly positioned to view this issue given the importance of Capital and Credit Markets for political and Economic developments in the Eurozone, and as Alberto Gallo from RBS tells John Authers in the video below the operational challenges are huge and specially so for Banks in France, Spain and Italy.

Tuesday, 16 July 2013

Transparent Investment Management

This is a kind of introductory post on Investment Management. It features a FT fm brief talk with Daniel Godfrey from the Investment Management Association.


Monday, 15 July 2013

Debt-fuelled World

In the John Authers video presented here is a fascinating work done by Principal Global Investors, joining a group of studies of investing for the long term and the Return landscape for Asset Classes ranging from Equity, Bonds, ETFs and so on. Quite interesting to note some of the conclusions of the Report, like the potential increasing allocation to Real Estate and Alternative Credit Markets and the potential for Institutional Investors other than Global Banks to take these Investments (really good from my point of view). Further it is instructive to learn that gold is an opportunistic short-term investment (besides the value it creates) that have high costs of holding, which explains poor performance. Finally ETFs turned from being a good beta (market exposure parameter) investment to being a tactical asset class and losing status from asset allocation to opportunistic. The brilliant Report and the accompanying video discussion can be downloaded here.

Bruegel: Europe must clean the banks!

The excellent video that accompanies this post is from the European Think-thank Bruegel. And it is a very clear vindication for the enforcement of a sound Banking system in Europe and in the Southern Countries of the Euro area in particular. Along the way it is proposed a few ways to financing Small & Medium Enterprises (SME), like the creation of fully Public backed Investment Banks or the granting of access to securitisation for SMEs (my preferred). The full report (pdf) can be found here, where you will check the source of the video as well.

Investing against all tides

As I've remarked here before, the business of investment is sometimes perilous and for the strong of heart and mind. Nevertheless it is to be done. Despite the odds or the apparent disadvantage. In this FT fm (fund management) video we notice just this and although the situation in Egypt might seem to prevent investment, that is not really the case and there is certainly good opportunities to take. It might only take a big heart and a strong mind.

Friday, 12 July 2013

Volatility profits...?

The Financial Markets are a very dangerous place to invest! We all already knew that. But it is certainly where money and profits are made. And that can be possible with taking the opportunity of gains in its inherent turbulence. The recent events in the US Federal Reserve or the Markets' movements due to Political or institutional developments are good examples where the so called Volatility Traders will be busy and attentive. As FT's Ralph Atkins documents in the video with this post:

Wednesday, 10 July 2013

European Financial Information Summit

Promotional post. This is as way of gratitude to Incisive Media publications. During the years that I lived in the United Kingdom and even now that I live in Portugal, this publication kind of kept a relationship with me and my hypothetical or real purposes with attentive quality. Thank you!

Friday, 5 July 2013

The Politics of Global Markets

Nice to watch this weekly resume from Royal London Asset Management's director and Head of Fixed Income Jonathan Platt. I think I am safe to say we had an eventful week on many fronts of the Global Markets, specially in some Eurozone countries as well as in Egypt. In matters concerned to the Eurozone it is interesting to note the relatively noncompetitive Italian Labor Markets largely compensated by the good National Saving rates of this Eurozone Country in contrast to others....Looking elsewhere it is also interesting not to notice a mention to the East Asian Markets, perhaps understandably as it is indeed mentioned the good economic performance of the US economy in comparison to other Advanced Economies. And the tapering will eventually occur, and the markets aren't ready!  And finally Emerging Markets (like Brazil or Turkey) are really under-performing and seeing a capital flight and growing inequality that alerts us for Political Risks and its consequences.  

 

Wednesday, 3 July 2013

The Case for Tax Evasion Crack down.....?

I would really like to see a proper, comprehensive global tax evasion crack down. And I believe that with good and proper tax laws, in the end we all benefit (and can afford lower rates of tax), and of course those on lower incomes! The real Economy would cheer as well.

Europe's woes still around

As the short video below sketches Europe's economic prospects are still shadowed by very dark clouds indeed. It is specially remarkable the comparison with the American's economic situation and the narrow or in-existent real value of investing in European Companies that at a first look might seem to be under-priced or in need a market correction. And the Markets are unforgiving to Political turmoil as the recent activity over the Portuguese Crisis well illustrate.

Deutsche Borse Group

This is a presentation. I hope that (unlike myself) anyone watching will perfectly understand the German Language without reserves or difficulties. It is kind of inspirational for me to try and definitely learn this important European idiom.

Thursday, 27 June 2013

Anthony Bolton

I must confess I am a fan of Anthony Bolton; his impressive record on the Investment Profession is almost second to none. A fundamental, value and at times contrarian style and strategy was most of the times handsomely rewarded. But Anthony's adventure in the Oriental China didn't add up to this reputation. For what I followed of his own views about this, and since the beginning he was very sanguine regarding the prospects for the Chinese venture, he was also warning that it would be his last take on the Global Investing scene, if it wouldn't be to his and all expectations. And this same promise was actually fulfilled as Mr. Bolton announced last week his retirement. Check in the FT''s Lex column video shown below for a dialogue on this, and maybe take the opportunity to look at the life and biography of Anthony Bolton!


Paradoxes of Finance

The business of investing isn't for the heart fainted, it is well known. But it isn't, so it seems as well for the careless in analysis. As the video below shows, FT's investment editor James Mackintosh is able to show why a Financial Crisis is always paradoxical in nature. As the chart pretty well demonstrate, the panic of moving money around in the midst of turmoil may be ill advised. And even for savviest of the savvy in the money business as the likes of Hedge Funds....

Tuesday, 25 June 2013

Europe's Clearing Business

The video that I here post is almost 1 year old, but it still remains a present issue. The FT reporter is interviewing Diana Chan, chief executive of EuroCCP, a UK major player in the Exchange business of clearing and settlement of derivatives and trading of securities. This business is going through major changes and deep regulatory overhaul following the events of the Financial Crisis and even beyond. We all hope that implementation of these changes and of EMIR will continue to maintain and enhance the viability and profitability of this important business that guarantees market efficiency. And certainly that further opportunities will be around the corner...!

...So Investing isn't so simple....these days!

Despite the Crisis recent data appears to reveal that net wealth in USA's households is rather a lot volatile, and it didn't quite follow the deep dips experience of other major crashes. And that is what  Larry Kantor, head of research at Barclays presents in the video below to FT's John Authers. We can also check that the job of investing these days is a choppy and difficult business, specially if we account for the uncertainties of today's markets and economies. What is interesting in this and contradicting a bit the former video of Authers and Gavyn Davies about the timing of FED tapering, is the idea that we maybe are in for a sooner tapering of Quantitative Easing from the FED and on the other hand we are maybe about to see a breaking point in the correlation verified for the past couple of years between the Bond Markets and the Global Equities Markets in the months ahead....! Quite something!

And this week China is out of Liquid.....

And following the tone of the last post, we continue the story of the Global Markets for this week and the video below is a FT Emerging China correspondent talk with Wendy Liu of Nomura. They talk about the volatility in the Shanghai Composite index that might have been triggered by China's Central Bank (it seems that all Central Banks are really nervous for the major protagonist roles on the Markets....) hard line. It seems that the hasrd line of the Chinese Central Bank is causing credit glitches...and looking to hard landings...But it might not in the end!

After Last Week Sell-off

Interesting in this FT Markets clip to take stock of how markets reacted to last week Federal Reserve's move, or as we might more appropriately call it intrinsically volatile signalling. There was a wild sell-off in equities globally,and what is particularly striking is Barclay's Chief Equities Strategist Barry Knapp's account of the correlation in the Markets between the behavior of Stock prices and Bond prices. And we prepare ourselves for what lies ahead for this week in the Markets.....or for what is left of this week in the Global stage!

Monday, 24 June 2013

The new era of Bankers Compensation

One of the legacies of the Financial Crisis 2007-2010 was the reputation and the way the larger Public assess the magnitude of Top Investment Bank Executive compensation. The general perception is of disproportionate pay to these officers, and not without reason and argument. And as a response there is data surveyed recently and shortly presented in the FT video below that confirms a downsizing of that magnitude. Nevertheless earning $10m-$20m (m for million) is beyond even of comprehension for the average tax payer of any Country irrespective of that Country wealth and level of development, to say the least about anyone average reaching that kind annual income. I am not a 'crusader' of Equality, but I really think that excessive Inequality is an issue of Social and Political Welfare in its own right, and there's lot of evidence pointing the ills and even economic inefficiencies generated by this excessive pay gap. But it is needed more than Financial Crisis if we ever going to close a lot bit more of this terrible gap, that despite the increasing numbers of Democracies around the world still persists and may will never really close in the first place.....

The turning taper won't be soon....

 The communicative acumen John Authers and the dearth of Macroeconomic Knowledge of Gavyn Davies united here in this FT video. I must confess to a bit of personal emotion about  pieces like this, thinking of my long months of reading, watching and on-line indulgence with the Financial Times. Hope for a next time certainly: 

Friday, 21 June 2013

We must learn and work....faster and faster!

In this post on 'The Physics of Finance' Mark Buchanan takes us back to a longstanding paradox in Economics: that of Productivity. Productivity may well one of the most puzzling paradoxes and concepts in all of Economics, and it will maybe continue that way, even with all the  technological advancements. Or by the way even in spite of Technology as the MIT Tech Review article mentioned points to. Always interesting, especially for our times where productivity data may be misused.....:

The Physics of Finance: Robots will take your job: From MIT Tech Review, this article explores an important question: is technology putting people out of work? That simple answer is of c...

EdgarBlogSphere: ReBlogging this:'The Physics of Finance: The War o...

EdgarBlogSphere: ReBlogging this:'The Physics of Finance: The War o...: The Physics of Finance: The War on Reality : If you're at all disturbed (I am) by the various recent revelations over massive data troll...

Advanced Risk and Portfolio Management (ARPM) Bootcamp, by Attilio Meucc...


Speechless.....:




Tuesday, 18 June 2013

When will the Tap go down....?

This week we will somehow know if and when the FED (Federal Reserve) will eventually start to tap down its Quantitative Easing program (basically a program to print money to stimulate the economy). The economic figures and the most recent forecast are somewhat disappointing and as such the Easing is likely to continue further. In the end it all might come down to a question of find the trigger of confidence on the part of the Investors that really matter.I would check here with the Trading Floor and the FOMC data if the result will in the be in the interests of the Real Economy or if that is still a mirage....

Tuesday, 11 June 2013

The Blurred Distinction.....

This edition of John Authers note (with John in person) gives us an account of why the common distinction made in the Financial and Investment community between Developed Markets and Emerging Markets may be eroding as the latter is maturing. As always well versed, researched and quite rightly helped here by  Ewen Cameron Watt, chief investment strategist at BlackRock Investment Institute:

Maturing-emerging-markets

Melting-up for optimism.....?

A short look at the recent 5% jitter in the Global Equity Markets that can make for a solid, and sustained rally in the months to come, even if we are heading for Summer break:

After-the-melt-up

Tuesday, 4 June 2013

The Challenges of Renewable Investing


Renewable Energy investing is a hot and very Modern way of Business Investing. But as this FT report suggests is not without its perils and issues

Contradictions of America


Nice short explanatory video about the Debt Limit question that thwarted the American Politics in the beginning of this year. It tells us the relatively unpleasant position for the White House incumbent and his, and his Government very limited power in setting the American Budget.

Friday, 31 May 2013

A lesson on 'Healthy Inflation'

This propaganda infomercial from the Great Depression time in USA, and the Roosevelt's era it is interesting for our times as well, for the common features of both Economic Historical periods. It seems that the problems are basically the same, but the methods are surely different. And this is Western in nature, as the prescription is the same for Europe and the EU.

Thursday, 30 May 2013

Equity Investing Differently?

The FT's Investment Editor James Mackintosh is a brilliant communicator, and here we are again fairly treated with a description of how Investors are behaving in the recent trade off between Bonds and Equity. And it is signalling volatility danger, or....opportunity! Check here:

Trade off Bond vs Equity Short View

European Union and Finance - City of London or otherwise...?

The European Union and Serious Finance.....?! Hopes should be for the best outcome possible! This video for a touch on the subject: 

EU & City of London

Europe, China and the future of Solar Energy

This  video is a wake up call to us for a possible dispute that in the future might jeopardize commercial Solar Energy. Let's hope that it will pass and be forgotten:

FT World China & EU

Tuesday, 28 May 2013

Creative Business Education...

Mesmerized by this piece from the FT about the structure of Corporate Boards. I thought it revealing and a nice and creative piece of business education if somewhat short....Good anyway!

Europe's innovating Manufacturing....?

Bitcoins - the Computing Money.....

It was a very nice read of this post from CAPCO Blog about Bitcoins. A realist take on the Computing Currency, and informative for me as I was fast becoming one enthusiast. The disadvantages list is sobering and eye opening...:

Bitcoins decoded - Capco Blog

An Investment Case for Low Volatility Strategies

Falkenblog: A Survey of Low Volatility Theories: David Blitz and Pim van Vliet, both of Robeco, and yours truly wrote a paper outlining the various explanations for the low volatility effe...

Thursday, 23 May 2013

Brazil's case for Investment

Brazil is losing economic momentum in the last couple of years, but as in this video in FT's Authers Note is pointed, there's never been a better case for investment in infrastructure and gains in productivity before. A quite good example of good Government Spending opportunity, so the Brazilian authorities were able to seize it....Check it: Unconfident Brazilians

A sobering insight into Abenomics

In this video from FT's Authers Note we, for those capable of understanding what Mr.Yasunari Ueno says, glimpse why economic policies of lowering wages and low inflation aren't good for the economy as whole, and not good for stock markets either: Abenomics no good


The behavior of Dumb Money...

In this video FT's investor editor James Mackintosh asks if the recent rally in Mutual Funds and ETFs  focusing in Japan's economy  is a bubble of Dumb Money ready to burst:

Danger of Bubble Money

Fearful Markets.......

The problem of fear and expectations for Financial Markets....
Fearful Markets

Are we in for Deflation hangover.....

Are we in for a period of difficult and without pain period of Deflation for the global economy. The problems in Europe seems clearly to mirror the Japanese lost decade. Economic performance in the US still remains below expectations, and Central Banks Globally are functioning like ultimate health machines trying to prop up Markets. The net result of all this is very low inflation expectations as Gavyn Davies post here in his Financial Times Macroeconomics' Blog. We maybe need to remember well how one resolves dilemmas ...Any dilemmas!

Wednesday, 22 May 2013

Price Fixing and the value of Speed Investigation

Mario Mariniello is an expert specializing on Industrial Organization and how to regulate properly the formation of Cartels and other mechanisms of market Distortion. In his latest report for Bruegel, Mario is startling showing us how Cartels still profit despite the level of fines that are charged to them and the possible solution on gathering resources to speed up investigations. The link to the report below here.

On Conceptual Filters and Economics

Once in a while on this Blog I will re-blog some Posts from the amazing, well written and comprehensive web blog The Physics of Finance from Mark Buchanan. Mark is a former Physicist turned Bloomberg finance columnist and reporter.Some of his posts are really interesting to read. Informative, thoughtful and a learning plus without any hint of doubt. Strongly recommended...and not just for the so called 'Rocket Scientist....' This post delves into conceptual matters of contemporary economics and makes the case for the fruitful debate around Rational Expectations Theory and its shortcomings...as wells its achievements!


The Physics of Finance: Blind on purpose: equilibrium as a conceptual filt...: A couple of years ago, I came across this article  written in The Huffington Post by economist and game theorist David Levine. It carried th...

Tuesday, 21 May 2013

Governors of the two Suns.....?

Mr Gavyn Davies gives us here a glimpse of things to come for the next Governor of the Bank of England. It is interesting the comparison with the activities of the Governor of the Bank of Japan, the the worrying uptick on Japan's rate of inflation (imported from somewhere else it seems) and how Mr. Mark Carney will deal with the British macroeconomics issues! Nice.

Tobin and not Robin Tax.......

A timely video from the FT. At a time of fear about taxing Bank accounts worth more than 100 K €, it is certainly comforting to hear the serenity and cold judgement of a world experienced in these matters...!

Wolf and Climate Change

Monday, 20 May 2013

Bruegel's Report

This Video follows a report from Brussel's Bruegel Think-Tank, thought to be close to the European Commission, in which top economists describe and give their assessment of the fiscal and economic adjustment of the south european euro area countries. This report is specially important at this juncture in time, not least for the strained political tensions that these programs of austerity are causing. There a link below for the Bruegel's website article and access to the Report.



http://www.bruegel.org/publications/publication-detail/publication/779-eu-imf-assistance-to-euro-area-countries-an-early-assessment/

Friday, 17 May 2013

Investor's Definition of the Day


Here I present my InvestorWords Question & Definition of the Day:

What is Variable Cost ?

Nuno Edgar Fernandes

Lloyd's of London, Insurance Industry and South Africa

In this video we learn about the role of the Insurance Business on the Global Financial Crisis, the relatively small role of UK and Europe markets in this sector globally (a bit surprising, but a sign of times) and we meet and enjoy a scientist turned Investor official well interviewed by ABN's Bronwyn Nielsen.


Nuno Edgar Fernandes

The Greek Tragedy Unfolding

This last Wednesday we've witnessed the way that the rating agency Fitch looked at the 10-year  Bond yield for Greece, and the assessment makes for a nice reading . A bit of optimism is rightly overdue for the European Union. Nevertheless we must keep track of what is and will happening in the mean time as the impression is still strong on the side of caution, as FT's Alphaville documents here:


http://ftalphaville.ft.com/2013/05/15/1501742/upgrade-driven-rally-du-matin/


Nuno Edgar Fernandes

The Future of Money....?


I think that bitcoin might one day totally revolutionize our money systems as they are today. Its decentralized nature and security features are really impressive, and to be taken seriously......!

LocalBitcoins.com: Start Your Own Money Press: Physical cash is old and well-working concept. It has a good privacy model, it is relatively anonymous and it is easy and fast to use. Phys...

Nuno Edgar Fernandes