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72c10bc
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The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.
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businessman-as-warrior
finance
financial-markets
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Satyajit Das |
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4bca003
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Risk management seemed to have completed its transformation into pure entertainment. Dudley seemed the epitome of a risk manager who would drown crossing a river that was 12 inches in depth .
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risk
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Satyajit Das |
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dc64141
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Traders risk the bank's capital: they literally bet the bank, at least up to their limits. If they win then they get a share of the winnings. If they lose, then the bank picks up the loss. Traders might lose their jobs but the money at risk is not their own, it's all OPM - other people's money. What if the losses threaten the bank's survival? Most banks are now 'too big to fail' and they can count on government support. Regulators are wary ..
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Satyajit Das |
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39cd43d
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Fashion models and financial models are similar. They bear a similar relationship to everyday world. Like supermodels, financial models are idealized representations of the real world, they are not real, they don't quite work the way that the real world works. There is celebrity in both worlds. In the end, there is the same inevitable disappointment" - Satyajit Das, Traders, Guns & Money"
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finance
modeling
modelling
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Satyajit Das |
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e2d180b
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The world is entering a period of stagnation, the new mediocre. The end of growth and fragile, volatile economic conditions are now the sometimes silent background to all social and political debates... A confluence of influences is behind the ignominious end of an era of unprecedented economic expansion. Since the early 1980's, economic activity and growth has been increasingly driven by financialisation - the replacement of industrial act..
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Satyajit Das |
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2c11787
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the sordid necessity of living for others."9"
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Satyajit Das |
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1d0d8b1
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Bertolt Brecht's observation in The Threepenny Opera that eating takes precedence over morality. Emerging
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Satyajit Das |
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e0292be
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While the changes that are necessary are actually simple, they're painful, and require courage and sacrifice. Living standards will decline in real terms. Citizens will have to save more and consume less. Working lives with lengthen. For many, retirement will be revert to being a luxury. Taxes and charges for government services will rise to match the cost of providing them. There has to be greater emphasis on the real economy - the creatio..
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Satyajit Das |