UK regulator encourages new entrants
Since the financial crisis, most banks have been hit by a tsunami of regulation. Just as there is a credit cycle, there is also... Read More
Simple outperforms complex
With stock markets around the world close to all-time highs, can we declare the global financial crisis ended? If so, when? What is a financial... Read More
Debt, equity and imbalances
Many people think that capitalism is divisive. rich v. poor or owners v. workers but I think the most interesting division within capitalism, is... Read More
Beer, moats and markets
Below is a talk I gave about long term trends, and the links that both banking and brewing have with religion. And the idea of... Read More