First, a big thanks for the incredible interest in, and downloads of, our Complexity Premia podcast! We have just published the third episode where we: discuss analysis showing that the government’s fiscal budget is already in surplus and what this means for the looming election; reflect on the heated and nationally televised debate on housing that I had with an economic extremist; review new research showing a dramatic surge in the risks of residential mortgage-backed securities or RMBS; examine Unisuper’s decision to plough $1.3bn into bank hybrids; analyse APRA’s latest statements on its important TLAC policy, which could reshape bank capital structures; and consider the wave of Listed Investment Companies (LICs) coming to market and some of the hazards smart investors have raised. You can listen to Episode 3 via iTunes here or podbean here.