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Friday, June 24, 2016

Friday Feature Book Review: The Richest of the Rich by Philip Beresford (Sunday Times) "英国の裕福な" : フィリップ・ベレスフォード

This is a great project by the Sunday Times that gathers the richest 250 wealthy people in the UK since 1066. The author Philip Beresford, is the same editor for "The Rich List" popular within the Sunday Times. Make no mistake, this is a list of very large fortunes, in fact billionaire level. Some are in fact much larger than many living billionaires in the UK today. Oddly many at the top of this list benefited greatly from the 1066 battles and the Norman conquests of those times. In fact, 6 names are directly connected, and therefore highly rewarded, as a result of winning the "Battle of Hastings". To the victors in battle, go the spoils of war, clearly.

Many of this class have inherited their wealth. In fact 146 of the 250 listed came from family money. At least 76 on the list are from very "old money" that often peaked in the middle ages 500+ years ago. We are talking about billions of pounds, not mere millions. The size and the scope of wealth amassed is enormous. The author works with an academic William Rubenstein who find a great way of comparing the wealth of owners over 1000+ years ago. They develop a conversion of the Net National Income and compare it to today. By dominating a large percentage of the national economy, a figure can be found. 

Some of my favorite profiles include Edward III, known as the "Black Prince". I did not know he was actually real, and assumed he was a myth of the knights of old. He lived around 1330-1376 and had a NNI wealth of 3.14% of the UK economy, or 2.7Million pounds worth 34 Billion in today's value. He distinguished himself as a warrior at age 16 during the hundred years war. It seems a shame he died an invalid at age 46. Others include Alan Rufus, who took in 7.3% of NNI or 81 Billion pounds in today's value. It helps to back a winner, and he was there on the battlefield in 1066, with William the Conqueror. 

Sir Richard Branson is one of the few more modern self made men in the list. He is worth over 3.1 Billion pounds, and seems to me one of the few bright spots in the 21 century. His transport and media empire and now taking on a more environmentally friendly tone, and new businesses with that theme are expected in the years to come. Foreign born billionaires, in fact 17 of them, make the list in the more modern era. Roman Abramovich, 10 Billion, Simon Halabi, 3 Billion, and Lakshmi Mittal,19 Billion. They all certainly shine brightly on this UK list. There were too many other great characters to mention here, but safe to say, many were very interesting and very entertaining reading. Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, June 17, 2016

Friday Feature Book Review: Street Smarts by Jim Rogers ジム・ロジャーズのストリート・スマート

Jim Rogers likes to travel and observe. He can do so now, mainly due to great wealth created as a top trader for George Soros. He sees the world with a very economic and investment themed pair of eyes. I like his way of seeing the world. As a child in rural Alabama, he remembered a curious story about a friend telling him that if he dug a hole deep enough, he would end up in China! Luckily, he got to fly there as an adult instead, and has returned many times. Every time he visits, he sees new opportunities.

He often sees good bets before the mass market generally. He has often been 2-3 years ahead of most trends, and that is what made him a wealthy money manager at Soros. It still serves him well today. He does not just talk, he also acts. He has moved to Singapore, and his 2 daughters speak fluent Mandarin. This is on purpose, it is planned, and he hopes more western parents will follow him down that road. Some of the most interesting "Street Smarts" Asian observations include how Japan, now has more pets than children. This is hardly a great indicator of growth or spending of its people. 

In his view, the US is declining economically at about the same rate as Asia-Pacific is rising. He sees the US as a great nation that has peaked economically, and will be replaced by a new rising star like many others before it. The next wave of investment opportunity are clearly in Asia, be it basic dairy manufacturers in Mongolia or nursing homes in Japan. The demographic statistics are clearly in favor of this area's success. 

He does seem a bit sad at the state of US healthcare and education. He makes a good case that twice as much is spent per person in the US, than any other nation, but with poor results overall. He finds the overall level of education in Singapore to be very high, in fact higher than the overall USA. However, all city states tend to have a much better level of education than a mixed urban & rural nations. 

Borders are now open, but may start to close again in many places. He remarks that Marco Polo had no passport and was able to travel freely into China. Great nations remain open, and grow more strong from economic influence. The US may be close to shutting its doors even more, given the recent Donald Trump popularity. Unfortunately, this is not good for the pace of continued innovation. This is the kind of book that you want to debate over beers with friends, and reflect on what really can happen in the short term versus the longer view. It is a great collection of observations of investment tips that can help any portfolio, if you like to keep your eyes open to investment worldwide. Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com




Friday, June 10, 2016

Friday Feature Book Review: "A Hedge Fund Tale" by Barton Biggs バートン・ビッグスによる「ヘッジファンド物語」

This is about going for the hedge fund dream 100%. It is about total dedication to a career goal. This is critical for being successful in "Hedgistan" also known as Greenwich, Connecticut. It is a hedge fund trader's personal story, and his drive without compromise. He is both winning and losing along the way. It shows a clear window into how New York grows top hedge fund traders who come from all parts of the US, and indeed the world. 

This is a great read that represents a very common story of how determined people who stand out in any way, can succeed via hard work. If some hedge fund entrepreneur has fierce dedication & discipline, then a chance is always there. Outstanding competitive individuals in sports or the military, can often make this transition into the most competitive areas of finance today, meaning hedge funds. 

The main character starts out as a high school athlete. He is from the rural countryside of the USA, and is lucky enough to find a mentor in a local HNWI(High Net Worth Individual). He works for him part-time as a teen, and builds a hunger for finance. This takes him to the highest levels of New York City and then Greenwich, the ultimate home beacon of "Hedgistan", the great land of the best hedge funds. 


The private golf club memberships, multi-million dollar mansions, and luxury cars are all part of the lifestyle. Where does life style end? When do wants become needs? This is a question, along with all of the private school fees and other high-end lifestyle costs. I have seen many true similar stories similar to this fictional tale that reminded me of various real careers I have come to know. 

If you are a financial information junky like me, and have the same kind of never satisfied need for lifestyle voyeur escapes, you will not be disappointed. Ultimately, this is very satisfying! Sadly, this was the last novel by the late great Barton Biggs, the author. He was a Wall Street legend for many decades and left this great gift for a new generation of financial young turks to read and learn for inspiration. Finance by its nature is ever changing and constantly evolving. This is was a great piece of work and a wonderful read, Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com




Friday, June 3, 2016

Friday Feature Book Review: "The Ascent of Money" by Niall Ferguson マネーの進化史 : ニーアル ファーガソン

I love history and finance, and this was both. It was pure pleasure from page one. Niall Ferguson explains both very creatively and amusingly, a very complex journey of how money started out. You learn how it evolved as a means of exchange at first, to the current storage of wealth, and its globalized spread as a needed use across borders. 

This book and in-depth research has been so popular it also became a BBC documentary series of 5 long and wonderfully engaging episodes. There were a number of stories in financial history that I had never before encountered, and I liked that challenge. Was Forex market making really how the great families in Italy like the Medicis, made their fortunes? 


The original word for bank, comes from banco or bench, where the original money changers worked from in Florence. If they went insolvent, they broke their bench, hence the term bankruptcy today. There are so many amazing facts about how the world of money started, evolved and later developed. It was a treasure trove of fascinating historical facts.

Barter is how we all began, but both coins and currency, have had an amazing change in development over time. This is what the author Niall Ferguson, really helps you to better understand. Bitcoins are just the latest chapter. It is but one of a long list of new products and concepts that sometimes work, sometimes not, but always moves forward. You have to make mistakes in order to learn, and the world's economies are no different. There have been plenty of global mistakes to learn from.



No matter how much you think you know about, there is always something more to add to your knowledge and consider. The world of money is the history of the world's economy, and it is a story that is ultimately never ending. At 400+ pages this book is long and really enjoyable, in a full bodied multi-course dinner kind of way. 

History used to be boring and bland in the hands of many, but this author is different. The author's style is so entertaining that I feared its ending as I ran out of pages. This is always a very good sign. This book of twin subjects focuses on finance & history, if these interest you, then it is Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com