Joakim Book
The Real Reason Nobody Takes Environmental Activists Seriously
What angers most people about climate activists is not their goals, but their elaborate system of doublethink, their profound cognitive dissonance, and the truly fascinating ability to rationalize their own behavior.
The Rise of Edinburgh, Financial Empire
The city of money no longer includes the best, the largest, or the most innovative banks, but finance still runs deep in Edinburgh’s blood.
The Limits to Hostile Takeovers
Capitalism, especially seen as a system conducive to hostile takeovers, does not need saving.
Yield Curve Inversions Don’t Improve Investment Outcomes
In light of the yield curve signal’s inability to overperform, it seems that for most investors the takeaway is that yield curve inversions are mostly noise. Ignore them and stick to your strategy.
Gresham’s Law Is Not the Reason for the Corruption of Democracy
Gresham’s Law is not the reason why the malicious field of politics attracts particularly awful people.
The Mythology of Cantillon Effects
To Cantillon all new money had the same redistributive and uneven effects, regardless of whether it was first spent in the real economy or entered the credit markets, reducing interest rates.
The Myth of Imminent Collapse
Worries about civilizational collapses by the Thunbergs and Extinction Rebellions of the world are exaggerated. We are nowhere near the brink of disaster.
In Defense of Share Buybacks
“The confused objections to share buybacks illustrate the failure to look past the immediate effect and to understand what financial markets do.” ~ Joakim Book
The Return of the Century Bond
Following the last few years of record-low yields, first on government debt and more recently on private sector debt, we have seen an unexpected twist: the renewal of this long-dead market.
If You Are Early, You Are Wrong
Before a financial meltdown, there is no way to tell with certainty that such a financial meltdown is imminent, even though a lot of pundits and cranks try.
