I mentioned in a previous post that I had come across Nathan Lewis's archive of his articles in NewWorldEconomics.com. Fascinating stuff, but with so much to read, you need a system of attack. Mine is here below. It's a bit rough, lacks a unifying form, but I think it is worth getting out there already. I'll … Continue reading Navigating NewWorldEconomics.com
When you first log-in to Bloomberg in the morning you are greeted by their quote of the day. Here is a list I will occasionally update with favourites. "All men who have achieved great things have been great dreamers." Orisen Swett Marden "Acquire inner peace and a multitude will find their salvation near you." Catherine … Continue reading Favourite quotes
A very short post to explain a quick trick I discovered for linking to a specific section in a Wikipedia page. This works for me in Chrome running on Windows XP. Visit the section you want to link to. Ctrl+C the name of the section (ie the section title in the page) you want to … Continue reading How to link to sections in Wikipedia
In an effort to make sense of the current chaos, I am ploughing through a collection of readings on economics, and came across a brilliant article by Irving Fisher. Written in 1933, it lays out his (educated) intuition on the causes and dynamics of debt-deflation cycles. Frankly it is so fresh it could have been … Continue reading Irving Fisher’s debt-deflation theory
If, like me, you spend a lot of time building spreadsheets with charts, you will want to make sure they are all lined up and neat. This is how I do it. You can get this whole process done in seconds with a bit of practice :-). Select the range of cells that you want … Continue reading Making neat Excel charts (quickly)
Nathan Lewis runs a blog called New World Economics, and back in 2008 he wrote a series of 7 articles which do a very good job of explaining how a bank works. It is well worth a read. Click here to see the series. Note that it was written in early 2008, which was about … Continue reading How do banks work?
Financing of infrastructure projects is a hot topic at the moment. Penny Lynch has kindly made a simple cashflow Excel model available which shows the key components (equity vs debt) of project finance funding. It's called Simple IRR and DCF Calculations, you'll find it on this page here (along with lots of other helpful spreadsheets).
Never heard of bond ladders? Well neither had I until a few months back. I was running some tests on a sample bond portfolio and discovered a seeming paradox: A portfolio that is long bonds may actually benefit from a sell off! The explanation is that you benefit when you reinvest the coupons that your … Continue reading Bond ladders
Want to know what I like reading? Here is a list of some recent favourites. I'll keep updating as new reads come along. 1. Want to feel inspired to be creative? These two books are for you. 2. The mathematics book that all mathematics books should look like. 3. Learn mathematics through its history. Highly … Continue reading Book recommendations
I'll use this post to list my favourite online reads, updating whenever I come across something new. Suggested reading James Montier at GMO. A recent article uses the concept of mean-reversion together with the profit equation to explain why equity markets might not have such a stellar performance over the next 5-7 years. Click here … Continue reading Well-written articles & blogs about investing