This is going to be my shortest post ever.
In March of 2009, Bloomberg.com wrote up quite the interview with the descendant of a man who made a lot of money during the South Sea Bubble almost 400 years ago, and who now is the same family’s head of the bank founded in 1762.
Nearly three years later, mega-banks continue to have their credit ratings downgraded. Mr. Hoare has some trenchant observations about failing banks and the keys to the safety of his bank.
Also, if you read carefully, you may be interested in the firm for which the second outside commentator works- or, rather, worked. Survivorship bias (not!)…
Click HERE for a most enjoyable short report.