Blog

We live in a world of unearned income

We live in a time of unearned capital

Welcome to the age of Mass Rentiers

Bitcoin: A Clockwork Pie

Bitcoin is a new kind of asset, that has got much attention since its inception in 2009. It is a totally digital asset, for some is a currency, for others is a commodity or store of value. It is something so new that the opinions about it are contradictory and it is pretty hard to […]

A History of Bubbles

What if you want to repair the mobility elevator at least for yourself? In this case, financial markets offer a very powerful but also dangerous tool, a sort of nuclear lift: asset bubbles.

Monsieur De Norpois’ bad advice

Since the 19th century, investors were faced with the choice between different asset classes. Psychologically, people prefer a fixed income: in their eyes, this stock does not fluctuate in value. Unfortunately they are brutally wrong. A very juicy portrait of a doubtful investor and a bad advisor is given in Marcel Proust’s In Search of Lost […]

A universal truth

It is a truth universally acknowledged that a single man in possession of a good fortune must be in want of a wife. This is one of the most famous incipits in English literature: “Pride and Prejudice” by Jane Austen. We will focus on the fortune side of the equation, as money, that is unearned […]

Standing on the Shoulders of Giants

We live in a world of unearned income. We live in a time of unearned capital. Welcome to the age of Mass Rentiers. Nowadays working is not enough to make a decent living. Many explanations have been proposed. Income inequalities have been pointed out in particular as the major cause of this phenomenon.  A few […]


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