Philip Richards is an extreme investor. His willingness to bet against the crowd has turned his initial £150,000 investment in his hedge fund company RAB Capital into £150 million since 1999. In particular, his Special Situations Fund, which he manages personally with the credo ‘to maximise returns with minimal restrictions’, has performed spectacularly. Since he
Think of this as a two-for-one Christmas special, a City Life column gift-wrapped inside Any Other Business. The city is Istanbul, where I am on a mission — in the steps of Pope Benedict, as it were — to salute loyal expatriate Spectator readers. And what a life this city offers. ‘Very cosmopolitic!’ exclaimed Mustafa
Just as the English have inspired supreme artistry in male dress, symbolised by Savile Row and Beau Brummell, so they have also contributed a dissenting movement of genteel shabbiness or grand nonconformity. It is not dictated by lack of cash but by sup-erior indifference, meanness and what I call the Robinson Crusoe syndrome, a delight
It’s simple, this internet grocery shopping. Log on, pick what you want, pay with your credit card and get on with your life while you wait for the doorbell to ring. No need to schlep to the supermarket, fight your way to the checkout, lug all those overloaded plastic bags into the car and out
If you built a composite portrait of Leigh Clifford from the handful of newspaper profiles ever written about him, you would be presented with an archetypal Aussie miner, as tough as the rocks his company digs from the earth. Shortly before taking up, six years ago, the post of chief executive of Rio Tinto —
Given that the government’s lust for setting targets has done so much to increase bureaucracy in public services Given that the government’s lust for setting targets has done so much to increase bureaucracy in public services, one could be forgiven for a little scepticism regarding the Prime Minister’s latest target: to reduce red tape by
Jonathan Davis says investors’ disregard for risk has paid off handsomely in 2006 — but it may not in 2007 A good general rule for investors is to take no notice of consensus predictions about what is going to happen in the next 12 months. The track record of year-end investment punditry is consistently poor.
Good manners are an outward sign of inward grace, a harbinger of nicely judged moral actions, warmly reflecting decency in thought. And by good manners I do not mean Osric-like flourishes or Chesterfield’s polished insincerity. Good manners involve taking trouble, a degree, however slight, of self-sacrifice and unselfishness. They are the trade goods of civilisation
Matthew Lynn says Porsche is supremely successful in its own niche, but that does not qualify it to run Europe’s largest mass-market car maker There are only three hard and fast rules in the motor industry, if you want to make money. Never build an orange car; steer clear of Formula 1; and never bet
‘Dinosaurs … think inside the box. Dolphins … occupy the space outside the box. ‘Dinosaurs … think inside the box. Dolphins … occupy the space outside the box. The dinosaurs’ negative headset creates a lose-lose situation, whereas the dolphins’ can-do headset enables them to score a try!’ ‘Set out to leave the first vapour trail
The latest non-job in Britain’s town halls is the affordable housing officer The latest non-job in Britain’s town halls is the affordable housing officer, a bureaucrat with the brief of bringing down the price of property. What local and central government mean by ‘affordable housing’ is, of course, housing that is more affordable, but the
In the mountains south of Zurich, as winter approaches, the farmers bring their cows down. The snowbound higher pastures will soon be empty, and the precious cattle walk down in traditional processions, some decorated with small flowers, the streets of the villages echoing with the sound of the famous cowbells. It’s a time-honoured tradition, and
Judi Bevan says that new technology has at last created real liberation for women — by enabling them to run successful businesses from home Kitchen table tycoons — the new buzz phrase to describe women who set up their own businesses from home — now account for £4.4 billion of sales a year, according to
If you are the kind of person who believes the things the City says, you might by now be almost convinced that we don’t really need oil any more. If you are the kind of person who believes the things the City says, you might by now be almost convinced that we don’t really need
On the way into Boston from Logan Airport, you pass a cavernous, closed-off tunnel entrance, full of construction vehicles, looking at night like an avant garde set for Siegfried. This is one end of the ‘Big Dig’, America’s greatest civil engineering fiasco, and it offers a useful corrective for the British inferiority complex about competence
At a time when I should be writing my book on human monsters — goaded on by the many ingenious suggestions from readers of this column — I have actually been painting. There are many reasons for this disgraceful irresponsibility. First, the delicious autumn weather and the tremendous rainbow of colours it has coaxed out
As we approach the festive season, spare a thought for the children of billionaires. These are joyless times for those holding out for an inheritance. As they climb aboard the private jet that will whisk them off to the yacht where a team of chefs will prepare their Christmas dinner, many will be wondering if
Glaswegians are secretly proud of their new, four-lane bridge across the River Clyde, the first crossing to be built in over 30 years. Seen from either end, it looks like half of a McDonald’s ‘Golden Arches’ sign. The city’s spin-doctors insist on calling it the ‘Clyde Arc’ but locals have christened it the ‘Squinty Bridge’,
‘Can’t see the wood for the trees’ is an old saying and a true one, not only metaphorically but literally. Nature students often look carefully at trees and know a lot about them. But they don’t notice the wood, and know nothing about its life and history. Since I began drawing trees with close attention
My name is Cosmic Finucane. I have lots of money, a body to die for and I’m building my dream house on an island with an ocean view. At least, that’s my alternative persona — sadly, a far stretch from the real me. He inhabits the internet’s hottest new phenomenon, the virtual world of Second