Death, Tax and Self-Interest… all unavoidable

I can almost hear the wailing voice of the “global elites” with addiction for low income tax…

“No, no, no… we can monitor Tokyo from Hong Kong/Singapore… I mean, it’s temporary… I am sure.  Besides, the big story is still, and will always be, China. Yes, yes, I know… but I have always told you it’s a long-term investment (till my retirement fund is big enough)… What?  Oh… no, my Mandarin is still poor but I have a good local team… trust me…”

Japanese equity business outstrips Hong Kong

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The Big Short: Inside the Doomsday Machine

The second non-fiction of 2016, done.  A great read: funny romp and poignant in the end.  I am a Michael Lewis fan, now.  Can’t wait to see the film.

今年のノンフィクション2冊目、読了。いやぁ〜面白かった。すっかり睡眠不足。

実は2003年にオフショア法律事務所に就職した時、最初に読まされたのが「CDOの作り方」というハウトゥーものだった。その後、CDOの発行体としてのオフショアSPV設立の仕事したり、2007年には震源地ニューヨーク、ミッドタウンのバイサイドのオフィスでウロウロしていたくせに、今まで全く当事者意識が欠如していたことに赤面。

映画公開が待ち遠しいが、邦題は「マネー・ショート 華麗なる大逆転」。配給会社のセンスが悪すぎ...もっとも「華麗なるギャッツビー」の「華麗」を意識しているのなら別だけど...そこまで考えているのかな

Shorting China

In case of the subprime bubble, there were willing fools and ignoramus in the marketplace, notably AIG.  I don’t see too many fools this time around to be taken advantage of.  (I see a huge “Strong Country” ego and hubris, though….)

Besides, if it’s in print, it’s yesterdays’ news.  Now that it’s a film… don’t these hedge fund managers worry about where they get their investment inspirations?

Their behaviour strikes me as similar to those of the bunch of IT company geeks; every one of them seem to think they are or want to be the next Steve Jobs.

There is a huge imagination-wasteland in the shadow of our modern meritocracy, created by this overarching herd mentality of ours to desire singularity.

– Hedge funds target a weaker renminbi