For Want of a Nail ……

Posted by & filed under Archegos, Banking ethics, Credit Suisse, Greensill, Learning lessons, Reputation, Risk assessment.

First – a definition. “Lessons learnt: lessons which are never learnt by those who need to learn them.” Today we learn that Credit Suisse has lost 4.4 billion Swiss francs following Archegos’ failure. This comes on top of its problems with Greensill, now in administration. This will result in a first quarter loss of ca…. Read more »

Same old, Same Old

Posted by & filed under Archegos, Banking ethics, Culture, Curiosity, Due diligence, Ethics, Financial crime, Insider Dealing, Tiger Asia Management.

Perhaps there was a clue in the name: Archegos. Arch. Egos. As a description of many in finance it can scarcely be bettered. A novelist might even think it a tad too unbelievable, unless you were seeking to write satire. But why bother when reality serves it up on a plate. The founder of Archegos… Read more »

Worthwhile Work

Posted by & filed under Middlemarch, Work.

Two quotes from a novel written in 1871 seem particularly apposite: “You must have a pride in your own work and in learning to do it well, and not be always saying ‘There’s this and there’s that – if I had this or that to do, I might make something of it.’ No matter what… Read more »