• Chris

Politics and Markets don't mix

The current spat between the EU and Switzerland over market “equivalence” is depressing, because it confirms the scale of political encroachment into the operation and development of markets.

Has nothing been learned from the repeal of the Corn Laws in 1846?

As a matter of fact, there were some very interesting dynamics happening at the time in the UK market for Railway Shares the lessons of which have similarly been forgotten. The “Railway Boom” resulted in part from leakages of information from the Board of Trade which lead to “an immense amount of gambling and speculation” in railway shares.

No good will come of this.