The sometimes eccentric views of John Hempton
Thursday, April 23, 2015
Navinder Singh Sarao: Our spoofing hero
This is a comment on the story rampant in the press about a British Man causing the US "flash crash". If you are not familiar thi...
Thursday, April 9, 2015
One more Bank of the Internet advertisement
This one needs no explanation at all: It says: "New draft pick wants to buy a luxury home. BOFI Federal Bank can do that". ...
Another Bank of the Internet advertisement
These advertisements are pitched at mortgage brokers and they have lots of jargon. But this advert is priceless... It says "Profe...
Wednesday, April 8, 2015
So what exactly do you get with Bank of the Internet stock?
There are only three banks in America who have (a) a market capitalisation greater than $1 billion. (b) a price to tangible book greater ...
Wednesday, April 1, 2015
Poor Charlie's Counterattack
Charlie Munger - at the last annual meeting of the Daily Journal Corporation - where Charlie is Chairman - said some pithy stuff about Valea...
Saturday, March 21, 2015
April is the cruellest month
Lew Burton (one of those mathematical finance professor types) just tweeted : Well I guess we might find out how much short gamma there i...
Wednesday, March 18, 2015
The Herbalife compensation puzzle
Before I went away I left people a puzzle - to force people to understand the Herbalife compensation scheme. The puzzle was - and to quote...
Sunday, March 15, 2015
Rolls Royce and the Sequoia letter
At Bronte we have a large position in Rolls Royce - the UK based manufacturer of jet engines. Rolls is a relatively simple story - Rolls i...
Friday, March 13, 2015
Herbalife and subpoenas
Bill Ackman has now conceded that his (sub)contractors have received subpoenas regarding Herbalife. The Wall Street Journal - who broke th...
Thursday, March 5, 2015
A puzzle for the next ten days...
I am just about to get on a plane to China and Hong Kong - so I will be away for a little while. However I have a puzzle for all you Herba...
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