Recent readings- Chilean Miner Rescue, Robert Peston

Happened to read the updates from Robert Peston from the BBC. He is a analyst who speaks with some degree of authority and presents news and analysis with convincing grasp of reality, scepticism and great degree of openness. His recent post on Standard Chartered was worth a read which underlines the qualities just mentioned.
"When I was a banking editor some 20 years ago, the rule about Standard Chartered is that if it could go wrong, it would. So I have had to pinch myself periodically over the past seven years, as its profits have risen in a straight line and its shares have soared. Today Stan Chart's market value at a shade under £40bn is greater than Barclays' and Royal Bank of Scotland's.Which is quite extraordinary when you consider that Stan Chart's balance sheet is less than a fifth the size of their balance sheets."

This kind of analysis is mixed with the right ingredients that serve as a powerful influencing tool in the public domain. I was drawn to the role of information in the markets as in the modern portfolio theory. As mentioned in one of the six tenets of modern finance on market efficiency(Brearley, Myers and Allen)
Finally wrapping up he says,
"So here's the question. Is Standard Chartered's £3bn fund raising an example of safety first by a prudent bank, or a hubristic precursor to the acceleration of lending in markets that are becoming a bit too
bubblicious?"

Although, I must also confess that I do also follow Stephanie Flanders and her writings on economics. Her writings offer a different perspective though there is a huge disparity in the degree of intensity found in analysis of topics and her blogs, which are rather, more direct.

Finally the biggest news story, that was all over the media. I just actively following the mine rescue effort, especially the last rescue effort through the capsule and the hole dug in the mile.It is amazing event, a positive story which captures multiples of human emotions. Finally at this hour and second, the final miner has been rescued, a Momento de gran alegría for Chile. The event also helped to divert the focus on practices from the mining companies and maybe a precursor for heightened spate of Health and Safety regulations in developing countries (and possibly its effect on the bottom lines of these companies). All my best wishes to the rescued miners and many thanks to the contributors to the rescue effort. It all ended in cheers, which is great.