12-23-2025, 04:00 PM
Other people’s money by John Kay: what finance is really for.
What is finance really for? In this episode, we explore John Kay's Other People’s Money and uncover how modern finance shifted from serving the public interest.
Key Highlights:
What role does finance really play?
Finance purpose Kay’s core critique of the financial sector.
Illusion of profitability doesn't equal real value.
4 fundamental functions of finance: Payment, lending, wealth, risk
Financialisation & long chains
Short-termism vs. long-term vision
What should a trader take away?
Summary of why Other People’s Money matters for traders.
Next episode, Same as Ever by Morgan Housel.
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