This week, I am writing from London. I have been thinking about regulation. In theory, regulation is a good thing so far as it protects investors. The problem is that most regulations add cost. Put regulated financial advisors to one side for a minute. Even just to buy shares in a company, you need to buy them from a regulated stockbroker who buys them on a regulated stock exchange. Sure, nothing is for free in this world but current costs make it prohibitive for the average investor. For exa...