Hints and tips:
...Giles Edwards, an analyst for S&P Global, said that “rising earnings mark a welcome normalisation after years of margin compression, but they do not alleviate all of the structural challenges to banks’ profitability...
...The country has got grumpy and annoyed,” said Edwards....
...From Watergate’s Deep Throat to Edward Snowden, whistleblowers have almost always been cast as principled loners who felt compelled to stand against the crowd....
...(I had to look them up: they are George IV and generals Charles Napier and Henry Havelock, who both served in India.)...
...US managing editor Peter Spiegel is filling in temporarily for Edward Luce, who is on book leave. Your feedback And now a word from our Swampians . . ....
...Edward Luce responds Rana, I found the Micklethwait-Wooldridge book synopsis very interesting....
...Jason Napier, analyst at UBS, said the results would lead to cuts in full-year forecasts, but noted that “the headline results probably look worse than the reality”....
...Jason Napier, banks analyst at UBS, said 85 per cent of Barclays’ second-quarter earnings outperformance came from lower impairments....
...Investors, as strategist Russell Napier likes to say, spend 90 per cent of their time thinking about demand and only 10 per cent on supply. Yet demand is tricky to forecast....
...Mr Edwards, who long ago predicted the collapse in government bond yields, made his case with charts and gallows humour....
...Dan’s summation: Albert was out bear-ed by the guest speaker, Russell Napier. But Albert is not a man to be out bear-ed....
...The next book on the list I have mentioned here before — Capital Returns, a selection of essays by the analysts at Marathon Asset Management edited by Edward Chancellor....
...Finally there are endless other possibilities knocking around in the grey areas where monetary and fiscal policy meet: strategist Russell Napier reckons that even if outright monetisation isn’t on the cards...
...At the end of the talk, Russell Napier, the Keeper of the Library of Mistakes, reached into his bookshelves to bring out examples of bad linear thinking....
...“Everyone’s on bubble watch,” says financial historian Russell Napier. “We all have to be on bubble watch because the central banks are on bubble watch.”...
...Société Générale’s Albert Edwards is another....
...Edward Lea, a senior independent director at RSA, said: “Martin will bring a fresh approach that will support our aims to deliver an excellent service to our customers and value for our shareholders....
...Edward Chancellor is a member of the asset allocation team at investment manager GMO...
...Albert Edwards is bullish....
...A rising tax burden will squeeze household cashflow — a lead indicator for consumer demand — to show zero growth by the second half, analyst Richard Edwards said....
...“We go down to Napier [on Wednesday] with confidence but we need a better performance than this even.”...
...By inventing logarithms, Napier turned these sums into simple addition. For example, it would be arduous to multiply 875 by 2,432 by hand....
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