5 Interesting Obituaries : EI Weekend 3356
As the 3rd quarter matures… time to remember 5 eclectic men who have died this year.
Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.
Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
On this day in 1865, the NYSE, in action taken in concert with the New York Gold Exchange and the Open Board of Brokers, prohibited its members from trading at the so-called ‘Evening Exchanges.’
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MACRO THOUGHTS
Here’s an added Macro insight we ran in Bigworld July 25th…
What investor doesn’t like a good population pyramid? I got very excited chatting with Michael Habte of the nascent ESX recently on IPO-VID 179: Introducing The Ethiopian Securities Exchange, thanks to Ethiopia’s almost perfect growth triangle.
Over in South Korea, things couldn’t look worse. Incentives to have children aren’t yet resulting in the birth boom the government would like. Moreover an analysis published earlier in July suggests a net decline in South Korea’s population of 85% is feasible over the next century.
With a truly inverted pyramid, private think tank “The Korean Peninsula Population Institute for Future” outlined a grim picture with the whole nation’s population potentially falling to 7.53 million by 2125, or less than the current population of Seoul at just over 9.3 million.
Even the most optimistic projection suggests a population of 11.15 million in 100 years.
Where currently 100 working Koreans support 30 pensioners, by 2100 the most optimistic forecast suggests 140 seniors for every 100 workers.
IN BIGWORLD
I have always thought a great argument against private jets was the Birkin Bag.
Not that I am averse to any PJ rides being offered but it’s just from a commercial standpoint some element of the senior management ought to be in plain view of hoi polloi — well premium tier hoi polloi anyway — as inspiration may come their way.
This was the gestation of the Birkin Bag, now a source of vast cash flow (albeit some — a sign of the times — challenged by AML authorities) to Hermes. In 1984, on a flight from London to Paris Hermès CEO Jean-Louis Dumas was seated next to a basket carrying Jane Birkin, who bemoaned the lack of a suitable handbag for dynamic fashionistas like her. As the story goes, Dumas got to work sketching on napkins in flight.
The original Birkin was given to arguably Britain’s most famous export to Paris and La Birkin sold hers a decade later at an AIDS benefit. The handbag sold again in 2000 AD (price undisclosed) before making a fairly staggering $10 million, including fees at Sothebys in Paris, to an anonymous Japanese bidder.
In case you have not already gathered, this is — by far — the highest price recorded for a handbag in history.
(At a super conservative estimate, Birkin bags alone deliver something like $150 million in revenue to Hermes annually, and they ration who can buy them…).
BITCARNAGE
Token Travails
A story from the WSJ worth highlighting (Want to Trade Amazon On Crypto Exchange? The Price Might Be Off By 300% — WSJ) as this Kevin Low post on LinkedIn notes: Be Careful What You Wish For: Tokenisation Brings With It All The Woes Of The Cryptoverse…
In essence, crypto tokens introduce so many new forms of risk onto a blockchain it’s like Herstatt on crystal meth.
If you enjoyed this excerpt, you may be interested to know that you can read Bitcarnage every day in Exchange Invest.
Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.
PLY: MARKET MOVERS ON FINTECH TV
Catch me on Market Movers On Fintech TV every Monday at 0920 AM for the latest insights in finance, technology, impact investing, and market trends. Fintech TV is on the web (Fintech.TV), in a multitude of airports across the USA and other channels.
EXCHANGE INVEST WEEKLY PODCAST
Bangla Bust Up,
Zimbabwe SE is on an IPO roadshow,
MIAX Lists On NYSE,
& the producer of Conclave is making a movie about the 1929 Wall Street crash the parish hits summer strides…
The Exchange Invest Weekly Podcast 309
OF INTEREST
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
Stanley Fischer:
Obituary: Stanley Fischer, 1943–2025
Central Banking
Professor Emeritus Stanley Fischer, A Towering Figure In Academic Macroeconomics And Global Economic Policymaking, Dies At 81
MIT News
Frederic Forsyth:
Frederick Forsyth: Life As A Thriller Writer, Fighter Pilot, Journalist And Spy
BBC
Tribute To A Friend In Our Darkest Hour: Fredrick Forsyth (1938–2025
Law and Society Magazine.
The Frederick Forsyth I Knew
The Spectator World.
Gene Hackmann:
Gene Hackman, Oscar-Winning ‘Unforgiven’ And ‘French Connection’ Actor, Dead At 95
Rolling Stone
Norman Tebbit:
How Norman Tebbit’s Chingford Skinhead’ Exterior Concealed A Man Of Kindness And Loyalty Who Carried The Scars From The Brighton Bombing To His Grave: Simon Heff
Daily Mail
Norman Tebbit: The Greatest Prime Minister We Never Had
CAPX
The Anti-Woke Brexiteer Who Inspired Loyalty
The Telegraph
Leonard Lauder:
Leonard Lauder, A Powerhouse In The Beauty World, Dies At 9
Vogue
BOOKS WORTH READING:
Finance Book Of The Week
“The Complete Book of Option Spreads and Combinations, + Website: Strategies for Income Generation, Directional Moves, and Risk Reduction” by Scott Nations is a handy reference guide for using option spreads and other common sense option strategies.
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com — it’s only $499 per annum to join “The Exchange of Information.
Capital Market Revolution
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
LAST WORD
The future continues in the water cooler of the bourse business.
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