1. Z/Yen Group Limited 90 Basinghall Street London EC2V 5AY United Kingdom tel: +44 (20) 7562-9562 “When would we know our financial system is working?” Long Finance Conference 2016 Are You Interested Or Discounted? Long-Term Social Finance

2. London Accord Financial Centre Futures Meta- Commerce Eternal Coin Long Finance Conference 2016 ‘When would we know our financial system is working?’ Objectives:  Expand Frontiers  Change Systems  Deliver Services  Build Communities

3. “Damning Discount Rates” Professor Michael Mainelli @mrmainelli michael_mainelli@zyen.com Introduction

4. Creaky Victoriana

5. In The Long Run…

6. … we are all brought low

7. Creative Accounting? [http://dilbert.com/ 11 February 1993]

8. Agenda 14:30-14:45Introduction – “Damning Discount Rates” 14:45-15:00Presentation – “Why A Primer?” Dr Nick Goddard 15:00-15:30Presentation – “Long-Term Discounting: Ethics Or Markets?” Professor Mark Freeman, Loughborough University 15:30-15:45Commentary – “Explaining Discount Rates With Mini Case Studies” Matthew Rees, National Audit Office 15:45-16:00Commentary – “The Folly Of Discount Based Valuations” Dr Con Keating, Brighton Rock Group 16:00-16:10Break 16:10-16:50Panel Discussion 16:50-17:00Concluding Remarks Reception (concludes 18:00)

9. Presentation “Why A Primer?” Dr Nick Goddard

10. Presentation “Long-Term Discounting: Ethics Or Markets?” Professor Mark Freeman

11. Commentary “Explaining Discount Rates With Mini Case Studies” Matthew Rees

12. Commentary “The Folly Of Discount Based Valuations” Dr Con Keating

13. Break Please come back to your seats by 16:10

14. Panel Discussion Are You Interested Or Discounted? Long-Term Social Finance Dr Nick Goddard Professor Mark Freeman Matthew Rees Dr Con Keating

15. Climate Change http://www.climate.org/topics/climate/images/cc-cartoon.jpg

16. London Accord Financial Centre Futures Meta- Commerce Eternal Coin Closing Remarks ‘When would we know our financial system is working?’ Objectives:  Expand Frontiers  Change Systems  Deliver Services  Build Communities

17. ♦Activities – Mutual Distributed Ledgers (aka blockchain technology), Insurance Centres, Mythologues … more on discount rates ♦The Pamphleteers Blog http://www.longfinance.net/news/long-finance-blogs/the-pamphleteers.html ♦Long Finance Online Community - hear first about the latest news and events http://www.longfinance.net/community Outlook 2016

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