Exchange Invest Weekend 2938: On CEOs & More
CBDC, Shipping, a nonagenarian fashion mogul, CEO issues & vital traits, the $ store backlash & new forms of diamonds…
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 L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
On this day in 2008, the World Bank, IMF and G7 ended three days of meetings eliciting calls for economic coordination but no joint emergency plan.
IN BIGWORLD
From Exchange Invest 2935 & 2936: Wednesday & Thursday, April 10th-11th:
We were discussing High School education and its underpinning of the move from middle income to rich status yesterday.
One big factor which helped China’s massive economic rise in recent times was that China’s human capital grew 10X from 1985 to 2020.
However, how do lower income economies make the ‘great leap forward’ to rich status and indeed how can you fast track growth of High School students?
A fascinating experiment (outlined on this podcast) by developmental economist Professor Scott Rozelle, the co-director of the Stanford Center on China’s Economy and Institutions notes:
By delivering encouragement of cognitive engagement to babies in the Chinese countryside — e.g. interactive games and reading to babies etc… a programme gave 500 children 2 toys and a book which were then replaced weekly over 6 months. The process delivered a strong reinforcement across parents and children which resulted in levels of cognition ahead of their peers within the 6 months period and even 5 and 10 years later…
Then again Professor Rozelle notes, “Human capital development is necessary but not sufficient.”
Meanwhile, I was struck by a couple of notable stats:
- No command economy has ever made it into the 39 richest nations on earth
- Absolutely no command economies have ever achieved high income status.
Probably not all that surprising but worth considering.
IPO-VID LIVESTREAM
NEXT WEEK TUESDAY: Season 24: Episode 01
IPO-VID Livestream 139
Guest: Dr. Bharat Kulkarni
Tuesday, April 16th, 2024: 1700 UK, 1800 CET, 1200 EST
“Markets — the Winds of Change”
Dr. Bharat Kulkarni, has worked on the establishment of four commodity exchanges in Africa and advised on Warehouse receipt systems He has also consulted across Agricultural project investment and the Agricultural Value chain in Africa and Asia, with clients ranging from Private investors to Governments.
Dr Kulkarni is a former commodity trader who has worked for MCX India, IFPRI and The United Nations. During his stint with UN, he worked on redeveloping the value chain of Coffee and Sesame in Ethiopia.
Watch the Stream on:
NOW ONLINE! Season 23: Episode 06
IPO-VID Livestream 138
Guest: Tom Caldwell
Tuesday, April 9th, 2024 1700 UK, 1800 CET, 1200 EST
“Exchanging Investments — Tom Caldwell”
Thomas S. Caldwell has been in the investment industry since graduating from McGill University in 1965.
Mr. Caldwell is President, CEO & Director of Urbana Corporation, a publicly traded investment company listed on the Toronto Stock Exchange and the Canadian Securities Exchange (“CSE”). He is also a past Chairman of the CSE, “The Exchange for Entrepreneurs”.
Mr. Caldwell is a Retired Honorary Colonel of The Lincoln and Welland Regiment and was a Governor of the Toronto Stock Exchange who is recognized as one of the world’s foremost investors in securities exchanges.
Urbana Corporation and its affiliated companies and investment pools were the second-largest owners of the New York Stock Exchange prior to the NYSE’s demutualization.
Watch the stream on:
IPO-VID LIVESTREAM PODCAST
In the IPO-VID podcast episode #137, Patrick L Young was joined by Nasdaq’s Market Technology Senior Vice President, Magnus Haglind.
Be sure to listen to the discussion with this market expert discussing “Modernizing Markets.”
Now available from multiple different podcast sources:
EI Website
Spotify
Google Podcasts
Apple Podcast
EI WEEKLY PODCAST
FEX Global Offer Puts Australia In Play,
NASDAQ Seeks A New Formula For The Cloud,
There’s Talk Of Approval For An NSE IPO,
Gary Gensler’s Green Zeal Is Postponed,
LSE Investors Launch An ODD Pay Revolt,
& US T+1 Is Looming In < 30 Working Days.
The Exchange Invest Weekly Podcast 240
VICTORY OR DEATH
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
FINANCE BOOK OF THE WEEK
In response to reader’s queries, we have added a book of the week column to the EI weekend edition — interesting books pertaining to exchanges and markets, investment et al.
- Anybody can sign up for EI Weekend for free at ExchangeInvest.com.
This week’s book was written by our IPO-VID 118 guest & Arjan Capital Ltd MD, Andreas Schweitzer.
“Trade Works: The Trade Finance Investor” has a comprehensive glossary and a whistle-stop tour of the history of how finance can go wrong — and how to prevent it from happening again — making a tome to keep dipping into whenever you interact with trade finance..
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 $375 per annum to join “The Exchange of Information.”
BITCARNAGE
An Absence of Trust
The SEC Enforcement Director, Gurbir S. Grewal took the opportunity of a conference appearance to rather calmly and lucidly outline a brief history of crypto trying to avoid regulation… (Remarks At SEC Speaks 2024 SEC) which has been met with at the minimum a modicum of disdain from the crypto media such as Cointelegraph: SEC Enforcement Director Claims Crypto Industry Makes ‘Creative Attempts’ To Avoid Guidelines. Yet the reality is the crypto industry has behaved like a wayward puppy being placed under a leash for the first time — broadly doing anything to avoid being brought to heel. That behaviour is still too prevalent in the industry and leads to the Howey test denouements looming such as, the WSJ reports: SEC Enforcement Chief Touts Progress In Coinbase Case. Markets don’t survive without trust and while a lot of millennial bubble excitement is taking place, the case that crypto winter is all done and dusted may yet appear precarious for many…
Mr Grewal’s speech is well worth reading.
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.
MACRO THOUGHTS
50 Years Of Video Game Industry Revenues, By Platform
Visual Capitalist
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!
A CBDC Trial In Hong Kong Could Finally Enable Blockchain To Digitise Shipping, With Help From Ant Group
South China Morning Post
The 90-Year-Old Man Who Built A Western Wear Empire
The Hustle
This Is The №1 Trait CEOs Need Now
Fast Company
Follow The Leader: How A CEO’s Personality Is Reflected In Their Company’s Culture
Forbes India
How New CEOs Play Tough Hands
Becker’s Hospital Review
The Great Dollar Store Backlash
The Hustle
New Type Of Diamond Shakes Up The US$90 Billion Industry
South China Morning Post
LAST WORD
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The future continues in the water cooler of the bourse business…
— Patrick
