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Better to be franc?
By: David A. Smith Long ago I figured out that, when it comes to currency risk, never lend in foreign currency and never borrow in foreign currency. I would have thought this was obvious, but some of...
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The unexpected hanging: Part 1, Before it was pushed
By: David A. Smith The man was sentenced on Saturday. “The hanging will take place at noon,” said the judge to the prisoner, “on one of the seven days of next week. But you will not know which day it...
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The unexpected hanging: Part 2, Too many banks here anyway
[Continued from yesterday’s Part 1.] By: David A. Smith Yesterday’s Part 1 told half the story of an Austrian homeowner and acquaintance of columnist/ pundit David Frum. as described six months ago in...
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Bon viager: Part 1, Synthesis of tenure
By: David A. Smith Just as water and ice are two forms of the same molecules, lump sums and cash flow streams can be the same present values, one just transmuted into another. Over the decades,...
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Bon viager: Part 2, Synthesis of family
[Continued from yesterday’s Part 1.] By: David A. Smith In exploring the en viager model of tenure, prompted by a story on BBC News (1 July 2015), we’ve established that en viager, aside from being an...
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