Front Book, Back Book: A Framework for Understanding Financial Companies

Plus: Infinite Games and Wirecard, European Bank Consolidation, Chinese State Council

Issue #5 of Net Interest, my newsletter on financial sector themes, and I am overwhelmed with the response. Jamie Dimon of JPMorgan likes it, Nick Maggiulli of FinTwit likes it and scores of top investment managers like it. If you're reading this but you're not subscribed, you can join them by signing up here. You’ll receive Net Interest direct to your …