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He is the author of a recent book on ETFs: "Sector Trading: A Year in Exchange-Traded Funds".
What are the special characteristics of a public sector trading company that make it different from a private sector business?
Surprisingly, given the hoo-ha over the astronomical prices achieved by Twitter in its IPO, technology is one sector trading below long- term trends.
But it still leaves one of the strongest, best performing banks in the sector trading at a discount to its peers.
"If I were a policy maker I would seek to set aside the funding capacity from the intra-financial sector trading activity".
That means the prospect of effective measures to curb private sector trading and financial transactions with Tehran as well as government and EU level sanctions.
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The city's influential public sector trade unions agree.
And it is there where the small businesses community do much of their public sector trade.
Public sector trade unions would resist any moves to cut pay, pensions and reform the state services, they argue.
That means the sector trades at a premium to the overall market P/E of about 13.
Public sector trade unions should take the initiative and call local assemblies of community groups, anti-cuts campaigns and other activists.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com