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[Editor’s note: This letter was penned by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] Seven years on from the collapse of Lehman Brothers, everything has changed, and yet nothing has changed. There is no longer a perception of panic. $14 trillion of central bank stimulus has seen to that. But
[Editor’s Note: This letter was written by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] Léon Walras is the patron saint of modern economics. In other words, he was a clueless failure who hijacked immutable principles from the world of physics and misapplied them to the economic realm. The result, predictably
[Editor’s Note: This letter was written by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] If you’ve seen the movie The Usual Suspects, you know that wonderful line “The greatest trick the Devil ever pulled was convincing the world he didn’t exist.” We believe the greatest trick central bankers ever pulled
[Editor’s note: What follows is Tim Price’s hilarious, satirical take on a recent Financial Times fawning article on “Lunch with Ben Bernanke” by associate editor Martin Wolf.] — After literally saving the universe while at the helm of the US Federal Reserve, its former chairman is now quietly pursuing lucrative speaking engagements and
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] In Tobe Hooper’s 1982 horror film ‘Poltergeist’, strange things start happening in the Freeling household. Unbeknownst to its occupants, the house is built on ancient Indian burial ground. The TV set comes to life; glasses of milk break all by
[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] As investors we are all suckers for narrative. The current narrative appears to be: China is slowing down, so the sky is falling in. Everybody in the West used to be concerned that China was taking over the world. Now
[Editor’s note: This letter was written by Tim Price, London-based wealth manager and editor of Price Value International.] Those whom the gods wish to destroy they first pay too much. How else to account for the astonishing $200 million lawsuit filed last week by billionaire bond investor Bill Gross against his former employers,
September 21, 2015 London, England [Editor’s Note: Tim Price, London-based wealth manager and frequent contributor to Notes from the Field, is filling for Simon today.] As a child I was fascinated by the concept of a neutron star, the tiny but immensely dense thing that’s left after a massive star explodes. Imagine something
August 25, 2015 Spoleto, Italy [Editor’s note: This letter was written by Tim Price, frequent contributor to Sovereign Man’s Notes from the Field, and editor of Price Value International.] Hundreds of thousands of years ago, our early ancestors had a unique way of dealing with volatility. If something was truly threatening, our instincts
August 3, 2015 London, England [Editor’s note: This letter was written by Tim Price, frequent contributor to Sovereign Man’s Notes from the Field, and editor of Price Value International.] ‘They Live’ may not be John Carpenter’s best film. But over time it became a cult classic, in no small part due to a
July 13, 2015 London, England [Editor’s note: This letter comes from Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] “Nobody knows anything.” That was famed Hollywood producer William Goldman’s sardonic assessment of the movie business in his classic memoir ‘Adventures in the screen trade’. In finance, things are subtly different. “Nobody
July 7, 2015 London, England [Editor’s note: Tim Price, London-based wealth manager and frequent Sovereign Man contributor, is filling in for Simon today.] History, wrote John W. Campbell Jr., doesn’t always repeat itself. Sometimes it just screams, “Why don’t you listen to me?” and lets fly with a big stick. The definitive new
June 22, 2015 London, England [Editor’s note: This letter was written by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] The great biologist E.O. Wilson once observed: “The real problem of humanity is the following: we have paleolithic emotions; medieval institutions; and god-like technology. And it is terrifically dangerous, and it
June 15, 2015 London, England [Editor’s note: This letter was written by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] Today marks the end of the most notorious example of fiscal insanity in modern times. The Reserve Bank of Zimbabwe today begins a process to “demonetise” its now irrelevant currency, the
June 2, 2015 London, England [Editor’s note: Tim Price, London-based wealth manager, is filling in while Simon travels to Buenos Aires today.] FIFA headquarters seem more like a nuclear bunker than a swanky executive facility – or perhaps they are both. They take up 11 acres on the Zürichberg, cost 240 million Swiss
