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  1. 1. Ross Naylor +48 (22) 389 65 70 (w) +48 512 275 706 (m) ul. Królewska 27 lok 411 Warszawa 00-060 Poland.A Lighthearted Explanation of Words from the wiseSubprime "If something cannot go on forever, it will stop."Due to unforeseencircumstances, the past - Herbert Steinweek has beenparticularly fraught. As aresult, this weeks leadarticle comes not frommy own fair hand, butfrom the clever guys atCaseys Daily Dispatch.It is a super, albeit lighthearted, explanation of how thesubprime crisis evolved. Enjoy. Art (for lack of a better word) Imitating Life"Heidi is the proprietor of a bar in Detroit. She realizesthat virtually all of her customers are unemployed In the original Wall Street movie from 1987 the lead characteralcoholics and, as such, can no longer afford to patronize (Charlie Sheen) struggles to payher bar. To solve this problem, she comes up with a new the rent on a 100 square metremarketing plan that allows her customers to drink now, apartment.but pay later. In the new version the young starHeidi keeps track of the drinks consumed on a ledger (Shia LaBeouf) lives in a condo(thereby granting the customers loans). Word gets that is worth well over a millionaround about Heidis "drink now, pay later" marketing dollars.strategy and, as a result, increasing numbers of Is there a correlation between
  2. 2. customers flood into Heidis bar. Soon she has the this and the real life housinglargest sales volume for any bar in Detroit. bubble, where people purchased property way outwith their means?By providing her customers freedom from immediatepayment demands, Heidi gets no resistance when, atregular intervals, she substantially increases her pricesfor wine and beer, the most consumed beverages.Consequently, Heidis gross sales volume increasesmassively...."The rest of the story can be found here. Did you know?Food for Thought 50 years ago, Ghana and South Korea were economicThese are some of the articles that have caught my equals. South Koreasattention in the last few days. I hope that you find them economy is now 25 times theinteresting too. size of its sub-Saharan counterparts. It churns out hundreds of1. A video interview in the FT with Christopher Wyke, billions of dollars worth ofcommodities product manager for Schroders, on why it is Samsung televisions andstill a good idea to invest in gold, despite its recent rise. Hyundai cars and is now theHe offers a pretty good explanation of how to gain worlds 15th largest economy.exposure to gold as well as some reasons f or why it canstill go higher. Watch it here. The question to ask is, where is going to be the next South Korea?2. Suspicious Minds - There has been a mark eddifference between the ways the French and British have My New Websitereacted to pension change/reform. This article looks atthe differences as well as discussing the uncertainty My new website has just had itsfacing many people with UK pensions. Article here. soft launch. The full launch will be next week. Feel free to have a browse in the meantime. Any feedback (positive or negative) is3. The decisions you make just before retirement can more than welcome.have big consequences for your financial future. This isan interview with financial planner Stuart Ritter who talksabout some common mistakes that people make on the Disclaimerverge of retirement. Watch it here. The views expressed here are my own. They are not necessarily shared by4. A simple way of deciphering glossy financial AES International. They are subject to change at any time based on m arketbrochures. See here. and other conditions. This is not an
  3. 3. Thats all for today offer or solicitation for the purchase or sale of any security and should not be construed as such. References toAs always, a big thank you for reading. Your time is specific securities are for illustrative orappreciated. informational purposes only and are not intended to be, and should not beIf you have forwarded this to someone else then an extra interpreted as, recommendations tobig supersized thank you. purchase or sell such securities.Finally, if you have been forwarded this and wish toreceive future issues, just click the e-mail me button atthe bottom and put "subscribe" in the subject line. Call me: +48 (22) 389 65 70 (w) +48 512 275 706 (m) To disallow Ross Naylor from sending you email with this service, click here.