A Martian called Zog visits Earth to see what it can offer in the way of the latest investment funds. He meets an independent financial adviser called Charlie who asks him what kind of investment he’s looking for. ‘I’ve been reading about funds of funds,’ says Zog. ‘They sound good. You get access to a
‘The customer is always right,’ said the 19th-century American retail pioneer Marshall Field — and shoppers at his Chicago store became so enamoured of their omnipotence, and of his assistants’ assistance, that they spent enough to make him the wealthiest businessman in the city. His retail innovations — unconditional refunds and consistent pricing — soon
Waiting for the bursting of the Chinese share bubble is like waiting for an avalanche. You can hear the rumbling but you have no idea when and where it will strike. Among the most bemused of those waiting to find out are the Chinese authorities — torn between pride in the prowess of their markets
I have long been a fan of Patak’s, the Lancashire-based Indian sauce-and-pickle empire that was acquired last week by Associated British Foods for an undisclosed price thought to be somewhere north of £100 million. The business that now sells 30 million jars of curry sauce a year and supplies three quarters of Britain’s Indian restaurants
Not hell, but drunkenness, is other people. This insight was vouchsafed me in the London Underground the other evening. I had just passed a notice from the Mayor of London warning passengers to be careful after a few drinks. In the previous year, it said, two people had been killed and hundreds injured after a
I studied with interest the recent photo of Prince William and Prince Harry attending a military occasion in mufti. For officers in the Foot Guards and the Household Cavalry, the sartorial drill is, or used to be, strict. Here is my report on the two young men. Bowlers: all right but nothing spectacular. Harry’s better
When Lazard presented its results at the start of May, you might have expected the investment bank’s smooth-talking chairman Bruce Wasserstein to have been in upbeat mood. After all, Wasserstein trades on his reputation as the greatest mergers and acquisitions banker of all time. Lazard likes to think of itself as the finest M&A house
No official visit to China’s capital is complete these days without paying homage at a large and rather shabby building in the sprawling northern suburb of Haidian. The Beijing Olympic Tower is the nerve-centre of a seven-year, $48 billion project that has the potential to define China’s rapid ascent to economic superpowerdom — or to
Imagine coming across a book that has lain untouched for 100 years, and making an unexpected historical discovery. Ed Maggs, an antiquarian bookseller, had just such a thrill recently. ‘I was reading the epistolary diaries of a rather eccentric Victorian called Cuthbert Bede. I became strangely fixated by the story of this man who was
The Daily Telegraph estimated last month that roughly a third of the bosses of FTSE 100 companies use a personal coach — ‘and not the guy who tells them to do more press-ups in the company gym’. But you would be hard-pressed to find a newspaper feature anytime soon in which any of those business
Driving through the pretty towns of Speyside, as I did last week, it’s hard to believe you’re at the centre of a booming global industry. As the road follows the course of the river into the Highlands, you can spot the chimneys of the distilleries every few miles. But they’re mostly small-scale and they still
Shortly after the death of John Paul II in 2005, the wise and amiable Father Dominic Milroy, former prior of the Benedictine college in Rome, leant across a dinner table and said, ‘Martin, you’d make a good candidate for Pope.’ ‘But father,’ I protested, ‘I’m not even a Catholic.’ ‘Oh don’t worry,’ he responded, ‘We
That fierce neighbouring cat, which has killed or scared off our mice, has not yet destroyed our robin. Cats do not enjoy eating robins. If they do so by mistake, they vomit. But that does not stop them attacking the birds for sport. We think of robins as very tame, and they are — in
Richard Orange says London’s traditional dominance of global dealing in uncut stones is under threat from new players based in India, China and Dubai ‘How does it feel to hold $9 million in the palm of your hand?’ One of the world’s leading diamond buyers, Rajiv Mehta, watches intently for my reaction to this question:
‘Interests: travel, cinema, country walks, volleyball, volunteering at the pet-rescue centre…’ Why do CVs make job applicants sound like contestants in the Miss Cleethorpes beauty pageant, or desperate divorcees on dating websites? It’s possibly because job hunters now believe ‘personality’ is what wins over potential employers, and many applicants are prepared to lie about themselves
Call me a sentimentalist, but when Rupert Murdoch gave a speech here last week telling News Corporation to go carbon-neutral, and to inspire its many millions of viewers and readers to do likewise, I couldn’t help thinking that he must have been affected by the spectacle of human frailty revealed to him in his current
Active young men, going to work, now sport a new kind of uniform, part oik, part kiddy: trainers with upturned toes, baggy pseudo-patch trousers of the kind worn by dustmen, short zip-jackets, a child’s rucksack and a baseball cap. In the Sainsbury’s queue the other morning, a man thus attired addressed me in a marked
The best thing this country has ever produced is a fine-sown, closely mown and weedless lawn. You really relish it this sunny time of year, when it becomes a work of art, or as Wordsworth put it, ‘a carpet all alive/ With shadows flung from leaves’. I have been thinking about lawns because ours, in
Most of the young men working on ‘hedge fund alley’, the narrow streets leading away from Berkeley Square in Mayfair, have expensive but unsinister ambitions. They’d like a new Aston Martin DB7, preferably convertible. They’d like a swanky new penthouse overlooking the Thames, plus a girlfriend who might have stepped out of the pages of
For some years now it has been fashionable for fund managers investing in Europe to consider the entire Eurozone as one great big market divided up not by national boundaries but by industry. They see the choice not as between investing in Spain or in Switzerland but between, say, pharmaceuticals and retail. And when asked