Bronte Capital

The sometimes eccentric views of John Hempton

Sunday, November 15, 2009

The missing details: Bronte Beach edition

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Saturday afternoon and I had volunteer lifesaving duty.  My (broken) collarbone is knitted enough to be able to go in for a swim in modest s...
10 comments:
Saturday, November 7, 2009

The media market has a conservative bias

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Here is a sequence of numbers to bring tears of joy to a stockholder and tears of rage to a liberal pundit.*  197 262 211 1...
33 comments:
Friday, November 6, 2009

Fannie Mae’s results – oh, and what if Bank of America reported the same way…

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There have been some mathematical corrections to this post discussed in the comments. My pencil notes had the numbers right. By the time ...
40 comments:
Saturday, October 31, 2009

Zion sent their lawyers to get us. It is like being flogged with Jericho lettuce. I drop one on them. They can’t psychologically handle it.

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Oh no! Zion sent their Lawyers to get us. It's like being flogged with Jericho lettuce ! The Feral Fundamentalists have C...
19 comments:
Wednesday, October 28, 2009

The new GSE as zero meme – laying the assumptions bare – and a modest plan for Obama

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There have been a few broker notes out suggesting that the GSE preferred stock is going to zero.  The preferred stock itself has been dreadf...
24 comments:
Thursday, October 22, 2009

The goldsmith as retail bank

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The parable of the evolution of private banking comes about with a story about a goldsmith.  The goldsmith has the strongest safe in town – ...
3 comments:
Friday, October 16, 2009

Whatever pleased the Lord, he did, in heaven and on earth, in the seas, and all the depths…

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After considerable exchange with Zion's lawyers I have amended this post. The well is "probably" dry. For an explanation see...
10 comments:
Monday, October 5, 2009

Are the Spanish banks hiding their losses? Looking at the American data

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Whether the Spanish banks are hiding their losses is a major debate going on in the blogosphere and has been detailed at length in  the Fina...
42 comments:
Friday, October 2, 2009

Ducks in sewerage treatment works, drug resistance, dumb luck and investing

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The day the swine flu story broke in the global press I wrote up for the blog a possible influenza hedge.  It was a stock I thought would m...
9 comments:
Thursday, October 1, 2009

The new rapid SEC

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Mary Schapiro has not got great press amongst financial bloggers – however this time she beat me to the punch. Emergent Health Corp was a...
13 comments:
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