British companies are set to return around £125 billion to shareholders this year. Almost none of the coverage mentions it. Here is why. I suspect that if I asked you what British shares had done for their owners this year, you would reach for the index. Up a bit, you might say. Up more than
The Payout Nobody Mentions Read More »
I grew up watching a borough struggle and could do very little about it. What changed, what I give now, and why the time matters more than the money. When did you last give something away that you actually felt? Not a card reader tapped on the way out of a supermarket, and not a
Giving Is Easy. Giving That Costs Is Not Read More »
Silver peaked near $116 in January, fell to around $55 in July, and has climbed back. What that round trip actually feels like. I can admit this now, because enough time has passed that it counts as a lesson rather than a wound. There was a stretch this year when I stopped opening one particular
Silver Went There and Came Back Read More »
A bitcoin miner just shut its last American mine and turned the power over to AI. This is a story about repositioning, and what the middle costs. There is a building in Washington State that used to produce Bitcoin and currently produces nothing at all. The machines have gone. The power contract has not. Sometime
The Miners Who Became Something Else Read More »
Freedom is not spare time; it is permission what changed when I stopped asking to take my own holiday, and the part that is harder than it looks. There is a particular kind of waiting that comes with a leave request. You submit it, and then it sits somewhere waiting for a manager to decide
Twenty-Eight Days, And Someone Else Picked Them Read More »
Nobody actually wants more hours. They want a different shape of week. What I changed, what it cost me, and what I still get wrong. Nobody who says they want more time actually wants more time. Give them an extra two hours and watch what happens. The two hours get absorbed by the same things
Time Has A Shape, And Mine Was Wrong Read More »
Samsung fell over 6% and SK Hynix over 10% while Western indices hit new records. If you own a global fund, that divergence is already in your account. The Chip Wobble Nobody in Britain Noticed Two things happened in markets over the past day, and only one of them was in British conversation. The Dow
The Chip Wobble Britain Did Not Notice Read More »
Over 900 million SpaceX shares went on sale today. Lockup expiry is one of the least understood forces in markets; it explains a great deal. When the Insiders Are Finally Allowed to Sell Something happens today that will move a very large share price, was entirely predictable, was scheduled months in advance, is written down
When the Insiders Are Allowed to Sell Read More »
Your energy bill rose 13% in July because of a waterway most people could not find on a map. Here is the chain, link by link, and no politics. What a Shipping Lane Has to Do With Your Electricity Bill Your energy bill went up by 13 per cent on 1 July. You will have
A Shipping Lane and Your Electricity Bill Read More »
The Bank of England held rates again, but three of nine voted to raise them. The direction of travel has quietly reversed, and almost nobody noticed. Three People Just Voted to Raise Your Mortgage The Bank of England held interest rates last week, and the coverage was, understandably, brief. Nothing happened. Rates stayed at 3.75
Three People Voted to Raise Your Mortgage Read More »
