“Switzerland’s two big banks lead in offshore Asian wealth management partly because of their past troubles elsewhere. UBS and Credit Suisse almost forfeited their operating licenses in the U.S. and several EU countries for abetting tax evaders on both sides of the Atlantic with secret bank accounts in Switzerland.”
There’s supply, and there’s demand. The trouble is, there is also regulation – a lot of it. An article that does a good job of showing you what the UHNW world in China looks like.
“Note that Amazon is not in the business of forecasting political shifts; nor are they strangers to dealing with challenging bureaucracies (i.e., Seattle). Still, being completely tone deaf to the shifting political winds is a bad strategy. When you have the biggest swing in House seats in since Watergate, one might expect corporate management to take notice. Especially if, say your side gig is also owning the Washington Post.Duh.” Barry Ritholtz is less than impressed with Amazon’s decision to base their HQ2 out of NY, and then go back on the plan. As he mentions in the article, some things that have been reported as having taken place are difficult to paint as being blatantly illegal – but the problem is more political than economic.
“We are yet to receive any response to the several requests for comment sent to Colobit and to numerous websites, including Crypto365. The American WhatsApp number stopped answering our questions after two days, and we’ve been blocked by the Twitter user who first approached us.Alas, the foreseen year-end surge to $19,000 did not come to pass.” FT Alphaville does the tedious job on following up on what was obviously (to everyone), a scam. Yet, there are enough people in the world for whom this isn’t a scam, but perhaps an opportunity – which is why FT Alphaville writes these articles, and which is why I share them!
“A core part of the urbanism canon. People refer to this book all the time, even if they don’t realize it, so it’s worth having this as a base when coming into a conversation. (Jane Jacobs’ Death and Life also falls into this category, though it’s less propagandistic than Triumph.)
This book is about how “cities magnify humanity’s strengths”. It’s city propaganda at its finest, and I say that lovingly… I clearly fell hard for it! It’s hard to not fall in love with cities after reading this.
Triumph is what started me down the path of thinking about agglomeration economies, which has since been a key model for how I think about cities.” Devon Zuegel lists out books on urbanization that she has enjoyed reading. I haven’t read all of them, but agree wholeheartedly about Triumph of the City – fantastic book!
“Just 1 percent of U.S. single-family homes—1.8 million—are equipped with solar, and the real estate industry’s general understanding of TPO systems remains limited. Our real estate agent, a 35-year veteran, had never encountered one. The listing agents for Jug’s property also seemed uncertain. Initially they didn’t mention the system at all. Then they told us it was owned by Sunrun and that if we didn’t want to assume the lease they’d remove it. Then, apparently because they’d learned the full cost of that, they backtracked.” A less than encouraging story about rooftop solar electricity and TPO – read the article to find out what TPO is.