Exchange Invest Weekend Edition 2630: Gravitas To Phonies

Patrick L Young
6 min readApr 8, 2023

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Byzantines — Us? In an age of average, the gravitas of the brilliant Lord Lawson & unfunded Fed, Amazon’s phoney reviews, J-action hero?

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.

This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.

On this day in 2018, the 2018 Samsung fat-finger error occurred at the stock trading arm of the Samsung conglomerate. A Samsung Securities employee mistakenly distributed shares worth US$100 billion to employees.

IN BIGWORLD

From Exchange Invest 2628: April 5th, Wednesday:

One of the most visible roles of the British Monarch is also one where they have total control over the decision. Thus yesterday for the first time in 55 years, we had a change in the default illustration for postage stamps in the United Kingdom, adorned with the chosen profile of HRH King Charles III.

The previous silhouette of HRH Queen Elizabeth II created by Arnold Machin debuted on June 5th 1967 while the Queen debuted on stamps in Newfoundland in 1932 as a young princess. Her first UK Queen stamp was in the year of her accession to the throne, 1952 and hers was probably the most widely distributed portrait in history with some 220 billion representations having circulated during her lifetime and shortly thereafter…

The realpolitik of today is of course that while chorusing “Long Live the King! As we consider the new Carolinian stamps, in a digital age with considerable management issues, it’s time to ponder just how long we might expect the Royal Mail to survive? My money is on the monarchy and probably this Monarch to outlive the Post Office at least in this structure..

IPO-VID LIVESTREAM

NOW ONLINE! Season 17: Episode 05: IPO-VID Livestream 101

April 4th: 1800 UK, 1900 CET, 1400 EST

“Bob Pisani: Shut Up and Keep Talking!”

If you are in financial markets, our next guest needs little or no introduction:

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for 25 years. Pisani covered the real estate market for CNBC from 1990–1995, then moved on to become Stocks Correspondent in 1997.

His book “Shut Up and Keep Talking: Lessons on Life and Investing from the Floor of the New York Stock Exchange” was published in October 2022.

Watch the stream on:

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IPO-VID LIVESTREAM PODCAST

In IPO-VID Episode 092: Patrick Young was joined by Kazakhstan Stock Exchange CEO, Alina Aldambergen.

Learn how Alina is “Making The KASE For Kazakhstan.”

Now available from multiple different podcast sources including:

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EI WEEKLY PODCAST

https://exchangeinvest.com/podcast/

LIBOR Lives!

Alasdair Haynes of Aquis is going from strength to strength despite London’s soggy equity market

The LME published their Nickel review and more

The BMLL lake has become a glob

al data ocean

In Bitcarnage: It’s a case of BBC — Beaxy Breaks Coinbase but all we really want to know is who is the Binance mole?

The Exchange Invest Weekly Podcast 188

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.

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BITCARNAGE

The biggest Binance news is that, in a move which amounts to precisely 250 million iterations of “4!” to make a billion, no? Binance, CZ, And NBA Star Jimmy Butler And Other Crypto Influencers Have Been Hit With $1b Suit For Promoting Unregistered Securities (Fortune). I mean, a billion here and a billion there… Indeed, that could sooner or later distribute into real money (it has certainly already decentralized into a lot of legal bills methinks).

Curiously CZ has changed his Twitter image it seems and is now a kind of puce green with steamed up glasses:

I suppose that’s one of the NFTs you could mint last week on Binance in which case, I don’t know about you but clearly, I am, er, green with, well, something.

Everyday we cover the ongoing turmoil of BTC, crypto et al in our daily “Bitcarnage” section of Exchange Invest, for more details on a free trial to our premium newsletter of the bourse business delivered to your Inbox daily, DM a reply to this newsletter saying “30 day trial, please.”

…And now there’s a new option: Check out our Bitcarnage newsletter on Substack, all the crypto craziness around exchanges and markets in a single daily read at a lower subscription rate: More details here.

MACRO THOUGHTS

Nigel Lawson: 1932–2023

The Spectator

Nigel Lawson Was That Rare Thing — A True Political Giant

The New Conservatism

CapX

So farewell then by far the greatest British Finance Minister in my lifetime, Lord Lawson of Blaby who as plain Nigel was a highly accomplished journalist editing The Spectator and a profoundly brilliant co-conspirator to Mrs Thatcher’s greatness.

His understanding of economics and gift for delivering growth through deregulation are tragically lessons all the latter pygmies in his office have failed to comprehend (possibly barring the unfortunate Kwarteng).

OF INTERESTS

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!

5-Star Phonies: Inside The Fake Amazon Review Complex

The Hustle

Are We The Byzantines?

American Greatness

PLY: H/T Ann Berg for this thought provoking missive.

Why Are All Action Heroes Named Jack, James, or John?

Slate

The Fed Is About To Go Broke

Money Morning Australia

The Age Of Average

Alex Murrell

LAST WORD

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You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.

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Catch up on Monday for Exchange Invest 2631…

The future continues in the water cooler of the bourse business…

- Patrick

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Patrick L Young

Entrepreneur, Investor, Author. #Exchanges #Fintech #Startups #Motorsport Emerging Markets. CoFounder @Exchange_Invest @HanzaTrade @MissionToRun @YMarkets