Tuesday, 26th November 2019
Trust to girl power in 2020….
After the global financial crisis of 2008/09, Christine Lagarde, chief of the International Monetary Fund, made some comments that enjoyed wide circulation. She said this….
‘I do believe women have different ways of taking risks, of addressing issues…. of ruminating a bit more before they jump to conclusions. And I think that as a result, particularly on the trading floor, in the financial markets in general, the approach would be different….’
The comments did not represent an outright condemnation of the entire male species nor any individual member of it….
But the insinuation was clear: had more women been at work in senior positions on Wall Street and in other financial centers around the world, the crisis probably wouldn’t have happened….
Once the crisis had been digested, many top-level bankers attended the World economic Forum in Davos, Switzerland….
They had an interesting debate around a hypothetical question: had Lehman Brothers (one bank that crashed and burned during the crisis) been Lehman Sisters, would it still have failed as it did?
The consensus opinion among the bankers was that Lehman Sisters would not have made quite so much money as Lehman Brothers did during the boom times, but that Lehman Sisters would still be in business today….… Click here to read more
Tuesday, 29th October 2019
The laws of the universe remain in force….
Poor old Neil Woodford….
He flew so high. His star burned so bright. He was a master of the universe….
He had it all – in spades – and then some….
The big name, the sterling reputation, the rave reviews, the Midas touch….
The massive earnings, the splendid houses, the flashy motors, the horses and the stables….
But all that was back then – back in the days when Woodford was a wunderkind with his finger on the pulse of the markets….
…. Back in the days when Woodford could do no wrong – when Woodford’s stellar record as a stock-picking broker at Invesco was still up-front, in-your-face and fresh in the mind….
…. Back in the days when he was still building the legend that saw him turn every £10,000 invested in the fund which he managed into a princely £255,000 over two-and-a-half decades….
The shaven-headed operator – who preferred wearing jumpers and jeans to the usual city-boy attire (so cool!) – made ordinary investors rich. No other fund manager could live with him.
He was the financial world equivalent of a galactico.… Click here to read more
Tuesday, 3rd September 2019
Certainty should always be challenged….
Some folk get their fix of excitement and entertainment from sport….
Others play Tour of Duty or Assassin’s Creed….
Others still prefer the titillation served up on TV shows like Love Island or Naked Attraction….
Here at MT we get our kicks (and laughs) from the regular flow of mishaps and mayhem served up by the world of money….
- Winning investment advice for a new century….
We probably don’t have to go all the way back to the beginning of the 21st century to find a starting point for this week’s dose of truth….
But what the hell….
I was reminded about this scenario over the weekend and it is fresh in my noggin. So, here goes….
Back in August 2000 – with a brand-new untapped century stretching out in front of it – Fortune magazine attempted to hit the ground running by providing its readership with what it no doubt hoped would be some winning investment advice….
The piece was entitled 10 stocks to last the decade….
The idea was that if readers bought these stocks and held them over the next 10-years then they would surely do well….… Click here to read more