The closest thing to alchemy is modern finance.
Whether it’s clever accounting, bank structured products, or everything you’ll find in an ETF wrapper, the most powerful service finance provides is converting one type of cash flow into another.
There are important reasons for this. Different bond investors are willing to absorb various tranches of risk. Ot…
Keep reading with a 7-day free trial
Subscribe to The Till to keep reading this post and get 7 days of free access to the full post archives.