Semi-Retired Fund Manager
Contributor's Links: Bronte Capital Cooking With John

My name is John Hempton and I am a (semi) retired fund manager based in Sydney Australia. My key expertise is in banks and insurance companies though my investing interests extend widely.  I run the Bronte Capital Blog. The purpose of this blog is to explore ... more

ALL CONTRIBUTIONS

Thinking Aloud About Bank Margins - Part 2
If central bank policy is going to work the central bankers are going to need to learn from the banks that have maintained reasonable profitability in the face of negative rates.
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Thinking Aloud About Bank Margins
Bank margins were once a concern to bank investors and not really to the general public. After all low margins generally meant cheaper finance. High margin banks (like Australian banks) leave you with the uneasy feeling you are being ripped off.
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One More Brief Comment On The Markopolos GE Paper
The absolute core of the Harry Markopolos paper is that GE is dramatically under-reserved for long term care insurance. It took charges in 2017 and 2018. He points to these charges as evidence GE has the worst long term care business in insurance.
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The Latest Ken Henry Blow-Up
The Sydney Morning Herald today led with a headline that in leaked letters to consultants, Dr Ken Henry (then Chair of National Australia Bank) had said that bad things were being done - even as they spoke - at National Australia Bank.
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Mattel: Buybacks, Barbie And Dead Babies
I used to be of the view that suggested that buybacks were just another way of distributing to shareholders - a bit like dividends, selectively applied. But companies can impair themselves with buybacks in ways that you just couldn't with dividends.
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A Quick Note On The Resignations At The Top Of National Australia Bank
I am not sure that any Australian banker deserved to come out of the Royal Commission unscathed, but in a relative sense injustice has been done.
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STOCKS I FOLLOW

FITB Fifth Third Bancorp
MBI MBIA Inc.
RBS The Royal Bank of Scotland Group plc
XLF Financial Select Sector SPDR

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Work Experience

CEO/Founder
Bronte Capital
2008 - Present (12 years 2 months)

John Hempton is the Chief Investment Officer / Founder of Bronte Capital.

Analyst
Platinum Asset Management Limited
January 2000 - April 2007 (7 years 5 months)

Education

University of Adelaide
Bachelor of Economics
/ 1991

Publications