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Bronte Capital

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 investment ideas. It differs from most ...more
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An Old Story In Modern Times. Duncan Mavin's Pretty Darn Good Book On Greensill
Monday, October 24, 2022 7:41 AM EDT
Pyramid of Lies, Duncan Mavin's book on the Greensill Capital debacle, tells us that the illusion of omniscient bankers is just an illusion - and that dross masquerading as financial innovation continues well after the financial crisis.
In this article: GMHLF, CS
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Book Review: The Wirecard Book
Thursday, June 30, 2022 12:17 PM EDT
Dan McCrum - the Financial Times journalist - has released a blockbuster finance book - the story of Wirecard. Just buy it. Here's why...
In this article: WRCDF Also: V, MA
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How Big Is This Crypto Boom?
Sunday, May 9, 2021 2:11 PM EDT
Google Trends doesn't predict stock market rallies. Well, sometimes it does. More likely it is just coinciding with them, but let's take a look at some popular searches in relation to a certain cryptocurrency.
In this article: DOGE-X
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How Big Is The Greensill Problem At Credit Suisse?
Monday, March 22, 2021 6:58 AM EDT
Famously Credit Suisse embraced the "One Bank" model on the basis that the private banking clients benefit from expertise over the whole bank. And at its best that is true.
In this article: CS
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Delusion, Fraud And The Role Of The SEC - The General Electric Long-term Care Case
Thursday, December 17, 2020 6:18 PM EDT
Some have argued that since Luckin Coffee paid a $180 million fine for faking $300 million in revenue, GE's behavior which lead to $24 billion in write-downs should have cost them nearly $15 billion, not $200 million. I disagree, here's why...
In this article: LK, GE
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Is The German Finance Minister Delusional?
Monday, June 22, 2020 10:19 AM EDT
Wirecard - a major German fraud - is unwinding as I write this. They have withdrawn several years of accounts and they wonder whether the business (their main profit generator) was conducted at all.
In this article: WRCDF
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Will The Market Lend $500 Million To A Canadian Reverse Merger With A Collapsed Stock?
Wednesday, June 17, 2020 5:21 AM EDT
China Gold International are cumulatively unprofitable reverse merger with over a billion USD in debt and a collapsed stock price. They are not repaying the money unless someone lends them another cool half billion.
In this article: JINFF
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Thinking Aloud About Bank Margins - Part 2
Wednesday, August 21, 2019 10:30 AM EDT
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
Monday, August 19, 2019 10:26 AM EDT
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
Sunday, August 18, 2019 10:42 AM EDT
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.
In this article: GE
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The Latest Ken Henry Blow-Up
Saturday, August 3, 2019 3:49 AM EDT
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.
In this article: NABZY, ANZBY, WBK, CMWAY
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Mattel: Buybacks, Barbie And Dead Babies
Saturday, April 20, 2019 4:59 PM EDT
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.
In this article: MAT
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A Quick Note On The Resignations At The Top Of National Australia Bank
Thursday, February 7, 2019 10:51 PM EDT
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.
In this article: NAUBF
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A Quick Note On The Resignations At The Top Of National Australia Bank
Thursday, February 7, 2019 12:18 PM EDT
The Chairman (Dr Henry) and the CEO (Andrew Thorburn) of National Australia Bank have just resigned following criticism by the Australian Banking Royal Commissioner.
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Thoughts On The Herbalife Results
Thursday, August 2, 2018 10:33 AM EDT
Herbalife reported after market Wednesday and there was a lot of noise. But let's cut through all of that. Here are my thoughts...
In this article: HLF
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Just How Bad Is It For Big Tobacco? And A Business Idea For An Ambitious Investment Banker
Monday, May 7, 2018 10:38 AM EDT
Big tobacco stocks have had a bad month. Philip Morris had its worst day (for stock performance) in a decade.
In this article: PM, SWMAY
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1 to 16 of 101 Posts
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