How times change: the ECB has become the very model of a modern central bank I don’t suppose many of my readers took part in the European Central Bank’s tenth birthday celebrations last week — but if I’m wrong about Jean-Claude Trichet’s taste in columnists, then bon anniversaire, monsieur le président, though I can’t quite
Don’t ask an African elephant to show you his cardiograms I can’t help liking elephants, and I was delighted to receive from India a silk tie with a pattern of these huge and benevolent beasts, raising their trunks in the traditional gesture which means ‘Good morning and good luck’. I once had a beautiful alabaster
David Craig, a pioneer of the British hedge-fund industry, recalls lessons learned from John Paulson, the New York investor who topped last year’s global earnings league New York in the mid-1990s: my long-time investing partner Richard Atkinson and I were in the city seeking out people with whom we might co- invest. We had run
Christopher Silvester says you don’t have to be rich to invest in fine wine, and the rewards can be handsome Wine as an investment asset class intimidates most people, who mistakenly assume it is a rich man’s game when in actuality it is open to anyone who is prepared to commit a few thousand quid
On the face of it, I picked a bad week to volunteer to write about the rebirth of gentlemanly capitalism. My thesis was that the credit crunch would lead to a profound shift in the way the City goes about its business, heralding a return — if not to bowler hats and brollies, liquid lunches
‘Mr Pont, may I introduce you to Miss Austen?’ There is something infinitely touching about a creative artist who dies young, not before displaying sure evidence of a glorious gift but without having time to set up the arching parabola of developing genius. One thinks of that magic group at the beginning of the 19th
Staying recently in a handsome French provincial city, I could not help thinking, as I walked down its silent cobbled streets at night, what it would have been like if it had been in England. How restful is that deep, urban silence, which the young English so hate for fear of having to attend to
An unpopular, costly war; a sliding dollar; high levels of US government debt; behind us, 20 years of growth; oil and commodity prices out of control… Remember the first oil shock of 1973? Or are we looking at 2008? Just as 1973 was the harbinger of a new political epoch — of individualism ascendant over
Matthew Lynn wonders whether the world’s greatest investor will be able to pick winners in continental Europe the way he has for more than four decades in the US If Warren Buffett had not become famous as the world’s richest man — a career choice that trumps most alternatives — he could still have carved
The Financial Services Authority has had only two chairmen since its creation in 1997, and as the Northern Rock debacle happened on the watch of the second incumbent, Sir Callum McCarthy, the model for his replacement is inevitably the original holder, Sir Howard Davies. On that basis, Adair Turner — Lord Turner of Ecchinswell —
Hard to remember an occasion when an author has aroused such unanimous distaste as Cherie Blair’s revelation that the birth of her son Leo was due to her unwillingness to take her contraceptive kit to Balmoral, where the royal butler would unpack her suitcase and see it. ‘Ugh!’ or ‘Oh dear!’ were the universal responses;
Life has taught me very little, but one thing I have learned is that the only employee of local councils with a genuine vocation is the rat-catcher. He always loves his rats, eliminating them with the deepest respect, and is extremely knowledgeable and interesting about their habits — which are, indeed, very interesting. The last
Minsk is not a mecca for entrepreneurs or foreign investors, but it seems that the perpetual leader of Belarus, Aleksander Lukashenko, has decided to change that. The kolkhoz (collective farms) are not about to be broken up, and nor is the KGB ready to give up its paternalistic interest in business. But Lukashenko, Europe’s answer
When Labour ministers say ‘we’re listening’, this is what they really mean — and it’s frightening Last week the Labour government revealed its plans to create a national cyber-database to hold details of every phone call, text, email and visit to the internet, as part of its plan to fight terrorism and crime. Internet service
On the road to Agra, travelling to see the Taj Mahal, we found ourselves passing a seemingly endless convoy of trucks. Well, not so much a convoy as a convention, since the trucks were stationary. Miles and miles of motionless juggernauts, their drivers smoking biddies or drinking chai on the roadside. I turned to my
I’m going to start with a declaration of interest. I own a four-bedroom house in Cambridgeshire, in which I have been living for the past nine years. I own no other property, either in Britain or abroad. I feel obliged to say this because increasingly when I read headlines such as ‘Doom and gloom as
Theodore Dalrymple delivers a Global Warning It is when you see the English enjoying themselves that you realise the futility of life. Perhaps I should say trying to enjoy themselves: for in the attempt, rarely successful, they turn either glum or public nuisance. The occasion of these melancholy reflections was a rainy weekend in Torquay,
I sympathise with those mediaeval Jewish rabbis who, asked to describe heaven, pictured it as a perfect library. For them books were, or ought to be, inseparable from holiness. The words themselves, even the ink, had divine attributes. One 11th-century rabbi said that the works already present welcomed or rejected newcomers. They sensed whether new
Neil Collins says the rights issues recently announced by RBS, Bradford & Bingley and HBOS are a sign of desperation — and their terms are an insult to loyal shareholders Within the next few days, half a million savers with the former Halifax Building Society will receive a fat, bewildering and highly complex document. It
These days, Vesco the fugitive fraudster would have had a top job on Wall Street So farewell, Robert Vesco, the fraudster, drug trafficker and fugitive from US justice whose death last year has been ‘confirmed by Cuban burial records’, according to the Daily Telegraph. Vesco absconded with $200 million of other people’s money — $60