JI-Analytics started building our Citizens’ Wealth Framework (CW Framework) team in 2012. We were granted access to Japonica Partners Greek sovereign bond investment team of approximately 300 niche specialists, many among the most renowned in the world, and information mined from every relevant sector and source.
From an investment perspective, the CW Framework revealed systemic misconceptions and provided the smartest intelligence essential to one of the most successful sovereign bond investments in modern times.
JI-Analytics HVAs are built on continuously updated analytics of decades of information from eleven (11) informational silos to discover previously hidden intelligence, including: (i) monthly and annual government and sub-government financial statements, notes, and audits; (ii) primary source financial information from any and all government ministries; (iii) financing-related documents, including but not limited to bonds, loans, leases, investments, and restructurings; (iv) government financial numbers from national and regional statistics authorities; (v) reports, databases, and standards from NGOs such as IMF (e.g.: Article IVs, FTEs, PSBS, and WEO), OECD, PEFA, and World Bank; (vi) credit rating agency sovereign and regional government methodologies/ reports; (vii) investment research reports on governments; (viii) international government accounting standards; (ix) international government statistics standards; (x) relevant academic research and databases; (xi) and relevant materials produced by special interest groups, think tanks, and other broadly defined media sources.
Contributors in building the Citizens’ Wealth Framework are among the smartest experts across twenty-one (21) professional sectors, including but not limited to (alphabetically): academics, capital markets specialists, conference organizers, credit rating agency professionals, domestic law specialists, finance specialists, government administrators, historians, international lawyers, macro-economists, lobbyists, media specialists, micro-economists, NGO executives, private sector C-level managers, professional investment managers, public and private sector accountants, public and private sector auditors, statisticians, sovereign wealth fund executives, and think tank executives.
JI-Analytics has discovered that it is not uncommon for macroeconomic statistics from widely used government, NGOs, or academic statistics databases to overstate or understate government financial assets, government non-financial assets, government financial debts, government non-financial debts, and government total net worth (GTNW) compared to “true and fair” international accounting numbers by 50+ percentage points of GDP.
To achieve the unparalleled integrity of our CW Framework for historical and peer benchmarking, our team corrects reported government balance sheet numbers based on the best practices of international generally accepted government accounting standards to achieve the most reliable “true and fair” reflection of financial reality.
The Founder and Managing Director of JI-Analytics is Paul B. Kazarian, who is also the Founder and Managing Partner of Japonica Partners and the Founder and President of the Charles & Agnes Kazarian Foundation.
In recognition of the firm’s expertise, our Managing Director served as sole Special Advisor to the CEPS Task Force on European Union Government Balance Sheets, received the 2016 William Pitt the Younger Award for extraordinary leadership in strengthening democracy through public financial management, was co-founder and Adjunct Professor of Columbia Business School graduate level class B8024 “Assessing Sovereign Risk and Performance with Financial Statement Analysis in a World of Recurring Crises”, one of a two panelist university moderated roundtable on Broken Models of Public Finance with a subsequent chairman of the U.S. Council of Economic Advisors, which was published in the Journal of Applied Corporate Finance, and co-author of a Greek sovereign debt article in Intereconomics: Review of European Economic Policy.