Flowers in the Park The tents were up in The Regent’s Park, the coffee queue curled round the corner, and on the first day of Frieze London and Frieze Masters, held from 14 to 18 October, a painting of flowers older than the Bank of England changed hands for around £5 million (pounds sterling), roughly
London’s Art Fair Sold Well. Buyers Took Their Time. Read More »
The most quoted number in crypto is also the most misunderstood. Market capitalisation looks like a measure of size, value, even safety. It is none of those things. It is a multiplication. In investment banking HR, I watched people value their unvested share awards at today’s share price, as though the vesting date, the price
Market Cap Is the Most Misleading Number in Crypto Read More »
I have a confession. For a long stretch of my life, I owned one holding, and it was work. I did not decide this. Nobody ever does. Work kept growing, the way a good share keeps rising, and I kept not looking. By the time I noticed, it took up most of my week, most
Your Life Needs Rebalancing, Just Like a Portfolio Read More »
If the world economy were a group project, how many people would actually be doing the work? The International Monetary Fund answered that this week, and the answer was fewer than you might hope. According to its latest World Economic Outlook, released at the IMF and World Bank meetings in Bangkok, just 32 countries now
32 Countries Are Now Doing 95% of the Growing Read More »
Why would anyone pay to run 26.2 miles through a city they could walk around for free? On Sunday, 11 October, more than 55,000 people did exactly that at the 48th Bank of America Chicago Marathon. They started and finished in Grant Park, ran through 29 of the city’s neighbourhoods, and did it in temperatures
55,000 People Paid to Run. Chicago Got the Money. Read More »
The most revealing number from TOKEN2049 Singapore was the one that did not move. The world’s largest crypto conference returned to Marina Bay Sands on 7 and 8 October and sold out again. More than 25,000 people came from over 160 countries to hear around 300 speakers, visit roughly 500 exhibitors, and drift between more
Crypto’s Biggest Party Turned Up in a Suit Read More »
The most expensive number in the world this week was 0.6. That is how much American consumer prices rose in September alone, according to the Bureau of Labor Statistics on Wednesday. By Thursday morning in Seoul, it helped knock South Korea’s main stock index down more than 7%. If you have ever wondered how a
America’s Prices Rose. Seoul’s Chip Stocks Fell. Read More »
At a café last week, a man at the next table was explaining his job to a friend. He organised things: schedules, suppliers, and people who never answered their emails. His description was like a mild cold. His friend, who runs events, put her cup down and told him, quite seriously, that she would pay
You Were Never Bad at It. You Were Mismatched. Read More »
How can a stock market spend a month within sight of a record while more than three-quarters of its companies fall? That was September for the S&P 500. The index slipped about 0.5%. FactSet data show 78% of its members fell. Both things are true, and the distance between them has a name. The Name
The Index Is Up. Most Shares Are Not. Read More »
The largest fund for owning long-dated American government bonds has lost more than half its value since its 2020 peak. It holds no meme coins and no biotech with one product and a prayer. It holds loans to the United States Treasury, which is about as close to a certainty as finance gets. Bloomberg reported
Guaranteed to Pay You Back. Just Not Today. Read More »
