We estimate the wisdom of nations by seeing what they did with their surplus capital.

We estimate the wisdom of nations by seeing what they did with their surplus capital.

It sounds extraordinary but it’s a fact that balance sheets can make fascinating reading.

It sounds extraordinary but it’s a fact that balance sheets can make fascinating reading.

It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.

It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.

People get a little fed up and see their portfolio down significantly, and I always laugh to myself, because I read more

People get a little fed up and see their portfolio down significantly, and I always laugh to myself, because I still got paid.

Modern man drives a mortgaged car over a bond-financed highway on credit-card gas.

Modern man drives a mortgaged car over a bond-financed highway on credit-card gas.

The way to stop financial joy-riding is to arrest the chauffeur, not the automobile.

The way to stop financial joy-riding is to arrest the chauffeur, not the automobile.

A holding company is a thing where you hand an accomplice the goods while the policeman searches you.

A holding company is a thing where you hand an accomplice the goods while the policeman searches you.

When it comes to finances, remember that there are no withholding taxes on the wages of sin.

When it comes to finances, remember that there are no withholding taxes on the wages of sin.

Derivatives are financial weapons of mass destruction.

Derivatives are financial weapons of mass destruction.