Interesting Articles

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A History of US Finance since the 1970s:

This is an article that John Hempton wrote when at Platinum Asset Management in early 2007. It stands up fairly well however John thought that interest rate risk management (rather than credit) would be a substantial part of the crisis. He was wrong on that.

Bronte Capital Submission to the Cooper Review of Superannuation in Australia

This is a submission to a government inquiry on the running of Australia's privatised social security system. It concerns asset security and we have found these ideas extremely useful for anyone suddenly managing substantial financial assets. This is a must read article for someone setting up a family office (say after the sale of a business) or alternatively a new trustee for a pension fund.

An old Ted Sieper Paper from the 1980s on policy irrelevance and monetary policy

Policy irrelevance is a fashion in academic economic circles. We are pretty sure it is wrong. Whatever: this paper has informed how we think about macro-policy generally and is useful. It has also been referred to in some blog posts.