We’re barely ten seconds into our interview when Jeremy Grantham, one-time bedpan salesman from Doncaster, now hugely successful US money manager, is off on a favourite tack — mixing it with his competitors in the investment world. In this case what has drawn his ire are some reported comments from a well-known American fund manager
It is exactly 20 years next week since British Airways was privatised. Arguably, it was the most successful of all the Thatcher-era privatisations. Under the redoubtable Lord King and his marketing-wizard sidekick Colin (now also Lord) Marshall, a demoralised, loss-making state enterprise had been turned by five years of vigorous, not to say brutal, leadership
The novelist James Clavell must have purchased a job lot of clichés when he wrote his two fictional blockbusters based on the history of the Hong Kong-based Jardine Matheson business empire. Noble House is set in the modern era, but it is Taipan, set in the 19th century, that is the more notorious of the
It was Ronald Reagan who warned that ‘inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man’. Having just worked out that my personal rate of inflation is running at a scary 6.6 per cent, I know exactly what he meant. A few months ago
‘This is a celebration of the nerd in each of us,’ declared Partha, the pony-tailed co-founder of Mindtree, an information technology consulting firm, flashing a nervous grin at thousands of young software engineers ranged in a marquee in front of him and going on to read out a dictionary definition: ‘an unstylish, unattractive, or socially
Justin King feels underappreciated. Dubbed ‘Tigger’ by his staff shortly after arriving as chief executive of a crisis-ridden J Sainsbury Plc in March 2004, the 45-year-old’s normal bounce is notably absent when we meet at the grocery chain’s Holborn Circus headquarters to discuss his progress in ‘making Sainsbury’s great again’. Sales over the 12-week Christmas
For fund managers who specialised in Japan, 2005 was a fantastic year. After more than a decade of dealing with a market in the doldrums they suddenly found themselves in the middle of a boom: stocks were rising fast, gurus around the world were tipping Japan as their favourite market and Japanese-themed hedge funds were
An entry in the new edition of Who’s Who isn’t quite like a knighthood — you can’t buy one, for a start — but it is nevertheless a distinction. It’s also a useful indicator of trends. Business leaders appearing in the big red book for the first time this year illustrate the march of international corporate life:
It is good news that Longfellow is at last enjoying a revival, happily coinciding this year with the 200th anniversary of his birth. He is far and away America’s greatest poet. In his own time this was the general verdict on both sides of the Atlantic, and critical approval joined with popular success. His narrative
If you ever happen to find yourself teaching an economics class at a private school, here’s a question you could write on the blackboard. Which industry manages to keep pushing up its prices faster than inflation, and expanding its market share at the same time? The answer is the one you’re in: private education. In
New Orleans always had a split personality. There was the picture-postcard city that visitors enjoyed: lovely, languid, funky, obsessed with food and music and bon temps, in the local parlance. Then there was workaday New Orleans, home to poverty that would have shocked the rest of America and the developed world if they had seen
Suppose you have 15 minutes to while away waiting for the train. Why not pull out your mobile phone, punch in your pin number and download a Playboy movie for as little as £5? Not interested? Of course you’re not; you’re a Spectator reader, for heaven’s sake. But there are plenty of people out there
If I had a teenage child with a passion for serious music, I would not hesitate to give him or her Essays in Musical Analysis by Donald Francis Tovey. This is a formidable work. The first volume is on symphonies, the second on symphonies, variations and orchestral polyphony, the third on concertos, the fourth on
We smile, naturally, sometimes on our first day of life. But we have to learn to laugh — that is, we imitate the mouth motions, facial contortions and, above all, the laugh noises of our elders. This is why the way we laugh is part of our breeding. I notice every year at the Christmas
I like to think I helped start the national debate about fairness and executive pay with an article here in May 1993 headlined ‘Snouts in the Trough’, illustrated by Garland with pin-striped porkers helping themselves to huge portions of gravy. Since then, bosses’ pay packets have ballooned — the heat in 1993 was caused by
It says something about how cosmopolitan the City has become that, for my money, the three winners of my personal ‘people of the year’ awards are an Irishman, a Dutchwoman and an Indian. The latter is Lakshmi Mittal, who had the audacity to take on the French establishment with his bid for Arcelor and win.
The Velázquez show at the National Gallery has reminded me that art history is not only about what was, and what is, but what might have been. This Andalusian from Seville (his father was Portuguese) was a lifelong snob and social climber and later maintained his family were of gentry, if not noble, stock. We
Journalists are paid to be thought-provoking, but something very odd comes over them when they unfold their thoughts on the subject of Latin. Neal Ascherson, for example, once argued in the Independent on Sunday that he had been taught Latin at Eton as ‘a rite of exclusion for those outside, a ceremony of submission for
A friend of mine recently sustained terrible injuries to his hand when his shotgun blew up. Such accidents fill me with horror, not least because they remind me how important our hands are to us, and how easily — in scores of different ways — they can be damaged. Hands are miraculous things, and one
If you remember 1987 at all, it is probably for the October hurricane and the stock market crash. Because they coincided, they are inextricably linked as though one caused the other. In fact, despite falling 23 per cent, the market was back on its feet before the debris of the storm had been cleared. Share