We think of money as an objective reality – but in fact it is just a conceptual construction of the human mind. It does not exist in nature; animals have no notion of it; even humans managed to live for countless millennia without it. The history of money is the history of civilisation. It has…
The rise of bitcoin this year has taken all but its most ardent supporters by surprise. The virtual currency has risen by as much as 17x since the start of the year, with it passing $17,000 for the first time this week. While it could move higher in the short term, ultimately it appears to…
I think that one of the essential rules of showbiz is that one should leave them wanting more. On this basis, Henry Blofeld’s session this week reading his book, Over and Out, on BBC Radio 4’s Book of the Week slot and which finished today deploys the very showbiz rule earlier adduced. The entire presentation…
This morning a deal has been struck in Brussels. But will the Tory ultras buy it? And will Labour gain ground if they don’t? Sufficient progress? The breakthrough deal that was supposed to happen on Monday (04 December) was supposedly scuppered by the Ulster Unionists. In fact, much opposition to Mrs May’s original deal was…
The bid for Ladbrokes Coral (LON:LCL) has arrived. What surprises me is that it is tabled before HMG opines on FOBT maximum stakes – this is expected by the end of January 2018. I am taking a profit. ***** Steinhoff (ETR:SNH) has duly collapsed on the announcement that its CEO is going and PwC has…
Over the last five years the Nikkei 225, the main Japanese stock market index, has risen by an impressive 141%, which is well ahead of other markets such as the US, the UK and Germany. Despite these strong returns Japan remains one of the cheapest developed markets in the world. Hideo Shiozumi, who manages the Legg…
There is one sub-class of small cap stocks which offer the potential for substantial long-term gains – perhaps more than any other asset class in existence. Not just 100% or 200% gains but up to 100,000% or even 200,000%. The stocks I am talking about are microcaps, companies which have a very low market capitalisation…
HM Treasury has just announced that they wish to know what is going on in the world of bitcoin. This means that bitcoin is a serious form of currency and can be expected to retain its value against other currencies. Perhaps three months ago I thought that bitcoin was a serious investment since the Chinese…
Which would you rather own – $42,000 in a bank account, four bitcoins on your hard drive or a kilo of gold bullion under your bed? Cash versus gold Cash is useful stuff but you wouldn’t want to carry too much of it: it is bulky and can be easily lost or stolen. Money in…
Reports of a possible agreement on the size of the Brexit divorce bill that could pave the way for a trade agreement once the UK leaves the EU have prompted a surge in the value of Sterling, but the longer term picture is a lot more disturbing. The Labour party has recently admitted that it…
