Ah currencies. Just how important are they? Many pretend to understand, but are quickly confused. Even US presidents. I particularly like this exchange between President Nixon and his Chief of Staff, Haldeman: Show More

In “The Second Machine Age”, Eric Brynjolfsson and Andrew McAfee from MIT, chronologise how quickly technology is changing the world, and posit what the world might look like in the future. "Most fear that technology will replace most jobs. But the analogue and prediction I found most interesting was that... Show More

Who said “Let them eat cake”? Most will answer Marie Antoinette. The Storming of the Bastille on the 14th July, 1789 marked the beginning of a French Revolution that was to last 10 years, overthrow the monarchy and replace it with a Republic, only to then see a military coup... Show More

The Royal Commission into Banking. My lord! But rather than opine over the content, we are interested in the potential impact. Several months ago our economist Tim Toohey estimated the impact on consumer spending when interest only loans switched to principle and interest. We were pleased to see Deputy Governor... Show More

September 27th, 1983. What comes to mind? What if I include the quote from Bob Hawke? “Any boss who sacks a worker for not turning up today is a bum”. If you are over 45, you will know straight away. It was the day the yacht Australia II won the... Show More

Have you ever pushed the limit? Sure you have, just that little bit further, just that little bit faster. It’s the secret to success. But also sometimes disaster… Perhaps nowhere is breaking that limit as obvious as on a race track. Yet how many of us, as amateurs, love to... Show More

It was February 4th, 1994, and I was on a plane to LA from Sydney. I was treating myself to 4-week holiday skiing in Aspen and then on to New York; 1993 had been a good year. Initially when my boss, Richard Farleigh, had resigned 10 months earlier I wasn’t... Show More

It’s the time of year we typically take stock – both personally and professionally. And if you are reading this, presumably financially as well. And we make our New Year resolutions! Of course, we joke about NY resolutions, because so many of us fail to keep them. So why make... Show More

In 1989, I was hired by Bankers Trust as a graduate to work at the Sydney Futures Exchange. I pulled on the colourful jacket and went into the “pits”. It was heady and exciting times, and opportunities presented quickly. Within 6 months, I was trading the biggest book on the... Show More