Patrick Boyle On Finance Patrick Boyle

Send us a Text Message.Millionaires are leaving the UK faster than any country in the world other than China, new data shows.According to the Henley Private Wealth Migration Report, 9,500 millionaires, defined in US dollar terms are leaving the UK this year. Only China - which has more than twice as many people with seven-figure net worths - saw more millionaires leave.This is a new record outflow for the UK, with London expected to be especially hard hit. The top destinations for millionaire...

Send us a Text Message.Demetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless. Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. ...

Send us a Text Message.India’s stock market took its worst tumble in four years after Indian Prime Minister Narendra Modi’s BJP lost its parliamentary majority in a surprise outcome.This result means that Modi will need to rely on smaller parties to form a governing majority in the Lok Sabha, the lower house of India’s parliament, raising uncertainty about the Indian leader’s ability to pursue his pro-business agenda.Surprise election results in Mexico and South Africa also shook market...

Send us a Text Message.Trolls of Wall Street on Amazon: https://amzn.to/4e40D5MAn interview with Nathaniel Popper the author of Trolls of Wall Street - How the Outcasts and Insurgents Are Hacking the Markets. Trolls of Wall Street is a new book telling the story of an improbable gang of self-proclaimed “degenerates” who made WallStreetBets into a cultural movement that moved from the fringes of the internet to the center of Wall Street, upending the global financial markets and changing how a...

Send us a Text Message.Red Lobster was America’s largest casual dining seafood chain, with almost 600 locations across the United States and Canada. Its bankruptcy was announced earlier this week.The bankruptcy declaration insinuates that the chains equity owner who was also their biggest seafood supplier might have decided that their equity stake in the business was worthless, but that they could extract some extra value from the company before it declared bankruptcy by selling them a lot of...

Send us a Text Message.Over a four-day period Japan is suspected to have carried out two interventions to support the yen at an estimated cost of $59 billion dollars.The first intervention came after the yen fell below 160 to the dollar for the first time in 34 years. The second intervention came a few days later after Jerome Powell announced that a rate hike was unlikely to be the Fed’s next interest-rate move.The simplest explanation for the declining yen is that it is entirely driven by Ja...