Welcome to Straight Talking

Hello and welcome to my blog site, Straight Talking.

I am best known as a businessman in the City of London, and have worked in finance my entire 35-year career. Today, as Chief Executive of Tullett Prebon, one of the world’s leading inter-dealer broking firms, and founder of Fundsmith, my asset management company, it's fair to say that I have some insight into the workings of business, banking and the financial services sector.

I intend to blog about business issues, and the aftermath of the credit crisis which has engulfed us. I have included in my blog, as context, some back-dated articles that I have written for national newspapers in the United Kingdom. I also intend to write on issues about which I am particularly passionate – current affairs, history, culture, our society – things that affect our day-to-day lives. I, not a ghost writer, will write my posts, and they will be what this blog is all about: straight talking.

I have a reputation for straight talking. I'm often described as "outspoken". I don't view this as a criticism. I believe that one of the reasons we have got into the difficult and dangerous situation which afflicts our economy and society is that too many people followed the herd. There was too little high quality independent analysis, and we have been and still are too dominated by "spin" rather than reality. This blog is intended to make a contribution to breaking down that situation for the good of us all.

From time to time, I may also invite guest contributors to comment or blog on key subjects. I welcome your comments and will respond as best and whenever I can.

My blog also deals with my wider interests and I hope that those of you who have an affinity with these will also contribute.

 

 

Comments

[Martin Bodenham]

Straight talking with intelligence. This is long overdue, Terry.

While we are on the subject of handling the mess following the credit crunch and the need for straight talking, when are we seriously going to consider pulling out of that money pit we call the EU?

Cheers

Martin

[Terry Smith]

Thank you. I doubt we are going to even consider pulling out of the EU, but it's hard to see what benefit we derive from the £45m per day it costs the UK to be a member. It's galling to reflect that in the 1997 election in response to the Referendum Party (for which I stood) the political parties pledged that there would be a referendum on the European constitution. They have all reneged. If the EU does finally have to rescue Greece (not the current sham but a real bailout) it will bring closer a federal state of Europe with a single budget. Frankly, that's what you need if you have a single currency, but it's not what we signed up to.

[Martin Bodenham]

I find apalling the vow of silence of the major parties over the massive cost of our EU membership. It is the elephant in the room. The only way I can reconcile this is that all politicians aspire to greater office and there can be no greater platform than that provided by the EU. You only needed to look at Tony Blair's deep seated desire to become the first EU president to see what drives these people.

[Binsey]

Would it not make sense to have the General Election over the course of a weekend? The major parties bleat and moan about turnout. What do they expect - having something as important as this on a weekday/workday (particularly a Thursday) is tantamount to farce. Why don't we follow the example set but the Aussies? - http://en.wikipedia.org/wiki/Australian_federal_election,_2007. Is there a reason that we don't adopt this or am I the only one in the country to contemplate such a sensible move?

[Romford Dave]

Maybe £45M per day is a small price to pay for the opportunity of rebuilding the UK manufacturing base courtesy of the BOE printing press and its impact on the GBP FX rate.

Although the irony of having to pay European countries for the chance to re-establish British values back here is probably lost in the mists of bureaucratic time. (Obviously I'm referring to values before the likes of Red Robbo and his ilk).