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	<title>Twenty Third Floor</title>
	<link>http://twentythirdfloor.co.za</link>
	<description>Technical Business Advantage</description>
	<lastBuildDate>Tue, 07 Sep 2010 22:42:22 +0000</lastBuildDate>
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		<title>Back to school with you</title>
		<description><![CDATA[Brian Richardson, CEO of mobile banking company Wizzit doesn&#8217;t understand the monetary policy, or so it seems. He claims there is approximately R12bn of money outside of the formal banking system, or &#8220;under mattresses&#8221; as I believe he put it. This may be true. Then, and this is where I have a problem, states that [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/08/back-to-school-with-you/</link>
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		<title>Unreal desires for deflation</title>
		<description><![CDATA[It&#8217;s clear some people just don&#8217;t get that deflation is catastrophic from an economic perspective. You would have though that Japan&#8217;s lost decade (is it still only a decade?) would be sufficient warning. Michael Pento from Euro Pacific capital writes about the options open Bernanke to stimulate the US economy through open market purchases given [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/07/unreal-desires-for-deflation/</link>
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		<title>Too Small To Succeed</title>
		<description><![CDATA[According to a Fin24 story this morning, the FSB is probing smaller unit trusts. The economics of a fund manager depends entirely on growing funds under management so that revenues (based on assets under management) grow to be larger than costs (significantly fixed and at most semi-variable). Details of performance fees and the second order [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/06/too-small-to-succeed/</link>
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		<title>Risk, liquidity and the triumph of economics over alchemy</title>
		<description><![CDATA[Sharemax appears to be spiralling to its doom. Multiple stories today report that they are late on dividend payments to investors and may not be able to pay dividends in the forseeable future. Cash has run out. The overvalued, over-geared properties cannot support the income stream that was demanded from them. No surprises here then. [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/06/risk-liquidity-and-the-triumph-of-economics-over-alchemy/</link>
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		<title>Paid how much?</title>
		<description><![CDATA[The ongoing public sector strike has raised several interesting points. Not least of which is what teachers actually earn. A full-page advert in newspapers last weekend gave some very respectable figures  for teacher salaries.  A teacher just starting out, with a 4 year qualification has a total cost to employer of around R229,000 per year. [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/05/paid-how-much/</link>
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		<title>Not growing up</title>
		<description><![CDATA[The New York Times has a fascinating article about &#8220;Why are so many people in their 20s taking so long to grow up?&#8220;. It deals with the broader issue of how and when young adults move through phases of adulthood and how this has changed over the last 40 years. It&#8217;s based on US research, [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/04/not-growing-up/</link>
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		<title>Property investment &#8211; the value of data over opinions</title>
		<description><![CDATA[Lightstone have a trick up their sleeves. Their raison d&#8217;être is collecting, analysing, understanding and packaging data for themselves and others to use to understand past, current and future property valuations. Their housing price index is more robust (and more independent) than those of the banks based off their own data and target markets. Rather [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/09/01/property-investment-the-value-of-data-over-opinions/</link>
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		<title>Most decisions are made without all the information</title>
		<description><![CDATA[Tyler Reed blogs about entrepreneurs having to make decisions with limited information. It&#8217;s almost all unknown I don&#8217;t disagree.  It&#8217;s just that almost every meaningful decision ever made is made without all the information. Unknowns can be categorised a hundred different ways. One way is to think about: Unknown past information Uncertainty around the current [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/08/30/most-decisions-are-made-without-all-the-information/</link>
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		<title>5 Things to Learn from Monopoly</title>
		<description><![CDATA[I haven&#8217;t played Monopoly in a while (preferring Settlers of Catan, Carcasonne, Tigris and Euphrates and even Cranium), but after a recent conversation I started thinking about the game dynamics. There is surprisingly much that is relevant to the current story of our economy. 1 The Competition Commission is necessary Monopolies serve to increase prices [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/08/28/5-things-to-learn-from-monopoly/</link>
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		<title>CPI at 3.7% for July 2010</title>
		<description><![CDATA[From Stats SA The headline inflation rate in July 2010 (i.e. the Consumer Price Index for all urban areas in July 2010 compared with that at July 2009) was 3,7% The official inflation rate (i.e. the percentage change in the CPI for all urban areas in July 2010 compared with that in July 2009) was [...]]]></description>
		<link>http://twentythirdfloor.co.za/2010/08/25/cpi-at-3-7-for-july-2010/</link>
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