Investing in demographics -- Building the demographic framework -- Longevity & mortality risk markets -- Reverse equity transactions -- The tuna trade -- The bluefin tuna -- Tsuiji fish market, thetuna exchange -- Fishing for maguro -- Blue gold -- Water : who has it, who doesn't -- Mimicking...

High levels of investment in relation to cash flows, combined with high dividend payouts, have caused UK water companies persistently to borrow to meet their cash outflows. This behaviour is not adequately explained by mainstream theories of dividends. The intensive regulatory environment has...