Author: Tim Price

[Editor’s note: Tim Price, London-based wealth manager and frequent Sovereign Man contributor is filling in while Simon is en route to Colombia.] Successful investing requires having an edge. If you do not know what your edge is, you do not have one. One doesn’t need to be a rocket scientist, or even a

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “By virtue of exchange, one man’s prosperity is beneficial to all others.” – Frédéric Bastiat. It remains one of the most powerful metaphors in economics. In 1850 Frédéric Bastiat gave the world the story of the broken window. The son

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “It is because the public are a mass – inert, obtuse and passive – that they need to be shaken up from time to time so that we can tell from their bear-like grunts where they are – and also

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “Simple but not easy” – The title of Richard Oldfield’s book about value investing. It has a young, highly educated population. 60% of its people are under the age of 35. It has a literacy rate of over 85%. Almost

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “My interest is in the future because I am going to spend the rest of my life there.” – Charles Kettering. Perhaps the most extraordinary and important presentation you will ever see can be found on YouTube, here. Dr Albert

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] For the benefit of non-subscribers, there are two versions of the Financial Times newspaper. One of them is the hard copy edition, still printed on pink paper, an exact digital replica of which is available on the paper’s website to

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] “The media select, they interpret, they emotionalize and they create facts.. The media not only reduce reality by lowering information density. They focus reality by accumulating information where “actually” none exists.. A typical stock market report looks like this: Stock

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] A Shandong 5000 electroglide flatbed currency printing machine named ‘Ted’ has edged ahead in a fiercely competitive fight for the chairmanship of the US Federal Reserve, narrowly in front of its major rival, the Heidelberger Druckmaschinen high speed sheet fed

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] In a crisis, it helps to have good counsel. Consider the following sage advice from investment strategist Mike Tyson: “Everyone has a plan ‘til they get punched in the mouth.” Or as German military strategist Helmuth von Moltke the Elder

[Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] In the field of mathematics, chaos theory studies the behavior of systems that are highly sensitive to initial conditions. The idea in chaos is that, like life itself, where you start today has tremendous influence on what happens next. In

“The proper behaviour all through the holiday season is to be drunk. This drunkenness culminates on New Year’s Eve, when you get so drunk you kiss the person you’re married to.” – P.J. O’Rourke. On May 29th 1969, Warren Buffett wrote to his partners at the Buffett Partnership, informing them of his intention

[Editor’s Note: This letter was written by Tim Price, London-based wealth manager and frequent Sovereign Man contributor.] On August 6, 1979, Paul Volcker as the new Chairman of the Federal Reserve was determined to eliminate the terribly high inflation that had taken hold of the system. And he succeeded. The Fed’s primary interest