What an Old Movie Got Me Thinking

I came home from work late one night last week to find my wife watching an old movie. Not old, as in, Clark Gable-Carol Lombard old, or even Tracey-Hepburn old. But in today’s reality where, according to my kids, anything that has already been shown on an airplane is old, it qualifies as ‘old’. The movie was ‘Erin Brockovich’ [from 2000]. It’s based on a true story. The story of

Posted: April 10th, 2013 / read more

The EU Financial Transaction Tax – You Can’t Make This Stuff Up

Amidst all the serious problems that the EU needs to deal with, eleven member nations of the European Union have decided that their top priority should be to impose a financial transaction tax [FTT]. The tax will be 0.1% on equity and debt transactions and 0.01% on derivative transactions. It’s notable that both Britain and Luxembourg, the two EU nations where financial activities are a large part of their economies,

Posted: April 2nd, 2013 / read more

Another Fine Mess

A Eurozone bank run was averted yesterday (for now). Not by Angela Merkel. Not by Francois Hollande. Not even by Mario Draghi, head of the European Central Bank. No, it was averted by the Cypriot Parliament, who rejected the Cyprus bailout engineered by the European Union. Cypriot politicians rejected it because it called for what was euphemistically named a ‘tax’ on bank accounts, but what essentially amounts to the confiscation

Posted: March 20th, 2013 / read more

Italy: It’s No Joke

The Italian election is this week’s cover story in the Economist Magazine and the banner headline is “Send in the Clowns” over pictures of Beppe Grillo, a real comedian who speaks for the 5 Star Movement that took 25% of the vote and Silvio Berlusconi, the former prime minister, whose do-nothing policies over the past decade got Italy into the trouble it’s in, and whose party took 30% of the

Posted: March 14th, 2013 / read more

2 Minutes and 42 Seconds That will Make Your Day

The Syrian government attacked its own people with ballistic missiles the other day. In the Maldives a 15 year old girl was sentenced to 100 lashes for promiscuity after being raped by her father. At least 22 people were killed by a series of car bombs in Bagdad last week. Another week and another list of reminders of how despicably cruel people can be; I’ve come to the conclusion that

Posted: March 8th, 2013 / read more

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Bob Park

I co-founded FINCAD in 1990 and am responsible for the overall management of the company. Prior to co-founding FINCAD I worked in the Canadian investment industry in the private client areas of two national firms, Richardson Greenshields and CIBC Wood Gundy, latterly as a vice president.