Other peoples money quotes showing of 34 the great muckraker upton sinclair had expressed a deep insight into the relationship between the world of ideas and the world of practical men. John kay, is a visiting professor of economics at the london school of economics and a fellow of st john s college, oxford university. John kay is considered one of britains leading economics. Edited and with an introduction by edward chancellor, the book brings together 60 of the most insightful reports written between 2002 and 2014 by marathon portfolio managers.
He was the first dean of oxfords said business school and has held chairs at london business school, the university of oxford, and the london school of economics. Sep 01, 2015 john kay, economist and financial times columnist, asks in his book other peoples money why financial services are so profitable. Other peoples money dinner with professor john kay. It explains how the follies of finance have threatened the stability of the world economy, and describes an environment that is complex and sophisticated, but greedy, cynical and selfinterested. Other people s money and how the bankers use it is a collection of essays written by louis brandeis published as a book in 1914. Financialization over the past three decades has created a structure that lacks. Obliquity isbn 9781846682889 pdf epub john kay ebook.
The directors of banks and corporations, being the managers rather of other peoples money than of their own, it cannot well be expected, that they should watch over it withanxious vigilance. The film adaptation was directed by award winner norman jewison, and written by alvin sargent plot. John kay, is a visiting professor of economics at the. About the author john kay is a visiting professor at the london school of economics and a fellow of st johns college, oxford.
Finance is a business like any other, and should be judged by reference to the same principles the same tools of analysis, the same metrics of value that we apply to other industries, such as railways, or retailing or electricity supply. The real business of finance by john kay online at alibris. Other peoples money, by john kay the new york times. Find out why the international financial sector has become a ruthless mechanism made up of rotten parts, and discover how these parts can be eliminated and, eventually, replaced. Other peoples money is not merely another broadside content to denounce finances dysfunction, but rather a masterly attempt to locate its various origins and connect them with analytical and theoretical rigor. The real business of finance pdf by john kay other people s money. Like lending to firms and individuals engaged in the production of goods and services which most people would imagine was the principal business of a bank amounts to about 3 per cent of that total see. Raising challenging questions, this book will be of wide interest. Kay provides by way of context a panoptic overview of the history, evolution and structure of the financial system in the. Whether his specific proposals are the best approach, policy.
Other peoples money deals with the state of the financial services industry. Kay holds forth for increased regulation that is focused more on the interests of consumers. Booklist the theme of broken governance and accountability is echoed in economist john kays other peoples money. A leading economist charts the indirect road to happiness and wealth.
The real business of finance pdf by john kay other peoples money. Professor john kay, obe is visiting new zealand following publication in late 2015 of his new book other people s money. I will not hesitate to draw lessons from these industries. Other peoples money posted on august 28, 2015 by diane coyle catching up with postholiday stuff has slowed me down, but i finished john kays new book. Access a free summary of other peoples money, by john kay and 20,000 other business, leadership and nonfiction books on getabstract. A financial times book of the year, 2015an economist best book of the year, 2015a bloomberg best book of the year, 2015 the finance sector of western. A corporate raider buys up shares in an undervalued company and falls in love with the founder s son s lawyerstep daughter. John kay, a distinguished economist with wide experience of the financial sector, argues that the industry s perceived profitability is partly illusory and partly an appropriation of wealth created elsewhere of other people s money. John kay, a distinguished economist with wide experience of the financial sector, argues that the industrys perceived profitability is partly illusory and partly an appropriation of wealth created elsewhere of other peoples money. According to john kay, a visiting professor at the london school of economics and a regular contributor to the financial times, the finance sector is too large and too powerful. The lecture took place on thursday 9 february 2017, before a packed audience at louis leakey auditorium, kenya national museums. A corporate raider buys up shares in an undervalued company and falls in love with the founders sons lawyerstep daughter.
The finance sector needs to be reminded of its primary purpose. I was most impressed by how he explained the role of cds credit default swaps, moral hazard, and cdo collateralized debt obligation during the financial crisis in 2008. The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which brandeis alleged were working in concert to. Other peoples money dinner with professor john kay summary of discussion november 2015 1 the rise of financialisation over the past 40 years a process of financialisation driven by deregulation, technology and globalisation has transformed the financial industry in terms of scale, risk and culture. Oct 27, 2015 in other people s money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. Patrick honohan on an economist who argues that the world financial crisis has been contained but not settled.
He is a director of several public companies and contributes a weekly column to the financial times. J a kay the finance sector of western economies is too large and attracts too many of the smartest college graduates. Capital returns investing through the capital cycle. John anderson kay, cbe, frse, fba, facss born 1948 is a british economist. It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of other algorithms for computerized. Author john kay sets forth the theme of his book, and its title, at the beginning. John kay on other peoples money at cfa lunches the. Capital returns is a comprehensive introduction to the theory and practical implementation of the capital cycle approach to investment. Buy other peoples money book online at low prices in india. Other peoples money 2015 offers a detailed breakdown of the financial sector. Review of other peoples money by john kay seeking alpha. Feb 11, 2017 the 3rd fsd lecture with john kay was titled. After millions of words describing and diagnosing the financial crises of 2008 and their continuing.
Get the key points from this book in less than 10 minutes. Other peoples money dinner with professor john kay summary. Other peoples money dinner with professor john kay summary of discussion november 2015 1 the rise of financialisation over the past 40 years a process of financialisation driven by deregulation, technology and globalisation has transformed the financial industry in. Other peoples money is a 1991 american comedydrama film starring danny devito, gregory peck and penelope ann miller. John kay is a visiting professor at the london school of economics. First, a disclaimeri think john kay is a quite brilliant economist, thinker and writer. If you want to go in one direction, the best route may involve going in another. However, it doesnt necessarily need to be your money if you know how to leverage other peoples money to help you invest in yourself and build your net worth. In other people s money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. More clearly and with more evidence than anyone before, kenneth rogoff makes the case that cash feeds illegal behaviorand that illegal behavior probably now accounts for the majority of cash in circulation. Other peoples money by john kay, 9781610397155, available at book depository with free delivery worldwide. The real business of finance, which provides an accessible expose of the complex and layered modern financial system and the failure of laws and regulations to protect the public.
Kay is the author of nine previously published books and coauthor of the british tax system with mervyn king. A financial times book of the year, 2015an economist best boo. Librivox recording of other peoples money, by louis d. Department of economics and centre for macroeconomics public lecture. The real business of finance by kay, professor of industrial policy at the london business school and fellow john isbn. Buy other peoples money book online at low prices in. John kay, author of other peoples money about the book financial crime seems horribly complicated but there are only so many ways you can con someone out of whats theirs. The theme of broken governance and accountability is echoed in economist john kay s other people s money.
Other peoples money professor john kay professor wouter. Specializing on the relationship between business and economics, kay is not short of being in demand by many company directors and investment firms. Although living below your means is a good start toward building a financial cushion, ditching your latte habit and cable subscription wont add you to the list of selfmade millionaires. John kay echoes the sentiment, noting that as exchanging bits of paper cannot make profits for everyone, it is very likely that much of finance. John kay is a british economist who once taught economics at oxford and is now a professor at the london business school and an editorial contributor to the financial times. Jan, 2017 john kay is considered one of britains leading economics. Common sense suggests that if a closed circle of people continuously exchange bits of paper with each other, the total value of these bits of paper will not change much, if at all. It was based on the play of the same name by jerry sterner. It describes the basics of investment and the sophisticated innovations of the modern financial system. The real business of finance pub843 other people s money.
It is an aberration when the some of the finest mathematical and scientific minds are tasked with devising algorithms for the sole purpose of exploiting the weakness of. A financial times book of the year, 2015 an economist best book of the year, 2015. Other peoples money and how the bankers use it is a collection of essays written by louis brandeis published as a book in 1914. Download for offline reading, highlight, bookmark or take notes while you read other peoples money. Using dozens of practical examples from the worlds of business, politics, science, sports, literature, even parenting, esteemed economist john kay proves a notion that feels at once paradoxical and deeply comm.
Professor and financial times columnist john kay deftly explains the development and ramifications of the current global financial system. Stream and download audiobooks to your computer, tablet or mobile phone. Everyday low prices and free delivery on eligible orders. Full text of other peoples money, and how the bankers use it see other formats. The real business of finance pub843 other peoples money. About the author john kay is a visiting professor at the london school of economics and a fellow of st john s college, oxford. John kay in a discussion with marion terrill, transport program director at the grattan institute. With danny devito, gregory peck, penelope ann miller, piper laurie. The real business of finance audiobook by john kay. Chair, professor of economics lse, codirector of the centre for macroeconomics. The real business of finance, which provides an accessible expose of the complex and layered modern financial system and.
Professor john kay, obe is visiting new zealand following publication in late 2015 of his new book other peoples money. If some members of that closed circle make extraordinary profits, these profits can only be made at the expense of other members of the same circle. John kay deciphered the complicated world of finance and presented in an intriguing and logical way. His 2015 book other peoples money should be added to the long and sagging bookshelf on how the nature of the financial services industry here denoted fsi, and including both commercial banking and shadow. Other peoples money by john kay overdrive rakuten overdrive. While other peoples money isnt exactly a pageturner, it offers a compelling look at how, during the boom, a wall street mentality seized even the unsexy world of affordable housing. With decades of experience and research, here is a look at some of the most notable john kay quotes to document.
Full text of other peoples money, and how the bankers. The real business of finance by john kay, public affairs books, 2015. Sep 25, 2015 other peoples money, by john kay, profile rrp. Jan 15, 2018 instead, using other peoples money, aka opm, can help you get ahead financially, even if you want to start investing with little money. In other peoples money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. Other peoples money the real business of finance by john kay. In other peoples money, john kay shows, in his inimitable style, what has gone wrong in the dark heart of the finance sector. He has been a fellow of st johns college, oxford, since 1970.
His 2015 book other peoples money should be added to the long and sagging bookshelf on how the nature of the financial services industry here denoted fsi, and including both commercial banking and shadow banking. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to. Author john kay lectured in economics at oxford from 1971 to 1978, is visiting professor of economics at the london school of economics, and is a regular editorial contributor to the financial times. Evaluating the financial materiality of gender diversity factors. John kay, a distinguished economist with wide experience of the financial sector, argues that the industrys perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere of other peoples money. This book provides a guide to the complexities of modern finance. If you are the publisher or author of this book and feel. Apr 21, 2016 in other people s money john kay shows in his inimitable style what has gone wrong in the dark heart of finance. The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which brandeis alleged were working in concert to prevent competition.