Creative Capital

The Mystery Deepens

My inauspicious arrival on the Isle of Arran seemed to have perturbed Lady Jean Fforde not at all.

Lady Jean

As I dutifully did every morning, I listened to my overnight voicemails. My boss was saying something like this: “Stop what you’re doing and get yourself to the Isle of Arran, and don’t dilly-​dally!”

Why the Extremes Are Gaining

“The best lack all conviction, while the worst /​Are full of passionate intensity.” —“The Second Coming” by W. B. Yeats

The Rest of the “Great” Democracies

“Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world.” —“The Second Coming” by William Butler Yeats

Britain’s Dis-​United Kingdom

“The risk is that moderates will be squeezed out as right and left inflame politics and provoke each other to move to the extremes.” —The Economist

A Tour of the World’s Crumbling Democracies

“Around the world, radicalization is making coalition and consensus much harder” —Gideon Rachman in the Financial Times

The Middle Abdicates

“I think the West has forgotten what democracy means.” —Vera Lengsfeld, holder of the Federal Cross of Merit, Germany’s highest civilian honor

The Investment Policy Statement

“Te Kaitiaki Tãhua Penihana Kaumatua õ Aotearoa.” —The New Zealand Super Fund, in Mãori

Responsible Investing

We are observing how one of the world’s most successful investors — the New Zealand Super Fund — manages its capital, and considering whether we might not mimic some of what the Fund has been doing. The idea is to improve our own returns both on an absolute basis and on a risk-​adjusted basis.

Are You Really Able to Think and Act Long Term?

Investing like the New Zealand Super Fund is surprisingly easy — in concept. In practice, of course, it’s devilishly difficult. Otherwise, we’d all be rich.

Invest Like the Super Fund

“Hi, I’m Joe and I just turned eight. I love playing with my Grandpa. Grandpa always has time to play with me. He says that’s because he is retired and gets his ‘super’ or pension payments from the Government.” —New Zealand Super Fund Explained (from a short animation on the…

Hong Kong Will Mean China’s Demise

“China’s disintegration is now under way.” —Arthur Waldron, Lauder Professor of International Relations, University of Pennsylvania

The Waning Mao-​Xi Dynasty

“Without democracy, China will rise no farther.” —Jiwei Ci, University of Hong Kong

It Turns Out Hong Kong Is Different

“‘One country, two systems’ was always little more than a useful fiction, but… China has shown just how unrealistic the idea ultimately was.” —Rodger Baker, Stratfor

The Brits Blew It in Hong Kong

“[China] looks increasingly like it has reached a dead end.” —Frank Dikötter, Professor, University of Hong Kong
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