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Barings Bank Barings Bank (1762 to 1995) was the oldest merchant bank in London until its collapse in 1995 after one of the bank’s employees, Nick Leeson, lost £827 million ($1.3 billion) speculating—primarily—on futures contracts. (Wikipedia Jan 2010)
Euros versus the dollar
By John Schroy, on July 2nd, 2010 | 
The multiplicity of independent central banks is the Achilles heel of the eurosystem. A bank, controlled by the government, in a fiat money environment, that acts as the paying agent for that government, has — in effect — the capability to print money (although not necessarily banknotes).
Imagine, tomorrow the headlines in the Wall Street Journal read “$100 billion is inflationary euros issued without the knowledge of the European Central Bank”. What would be the effect of the news on the value of the euro as a reserve currency?
Post Modern Security Analysis
By John Schroy, on July 1st, 2009 | 
The old-fashioned, heroic security analyst, working alone in a dark room with a stack of annual reports, in a snow-bound house in Omaha, far from Wall Street, is less likely to solve investment riddles today, than fifty years ago.
The analyst of the 21st century must be ready to engage in collaborative research. The future lies in modern knowledge handling technology, including OSINT techniques, crowdsourcing, wiki software, and capital market taxonomy.
The Post Stock Buyback Era
By John Schroy, on April 19th, 2009 | 
The Crash of 2008 signaled a turning point in capital markets. The stock buyback era seemed to have ended. The Efficient Market Hypothesis was discredited. The inability of market experts and major institutions to place a fair value on thousands of securities indicated basic problems in security analysis and the handling of freely available information.
This article describes new challenges facing fundamental security analysts in the early 21st century, and the consequent opportunities.
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