Risk management seemed to have completed its transformation into pure entertainment. Dudley seemed the epitome of a risk manager who would drown cros… - Satyajit Das

Bertolt Brecht's observation in The Threepenny Opera that eating takes precedence over morality.

In truth, a good chunk of activity in derivative markets is driven by speculation. Part of it is obscured by semantics; the boundary between speculation and investment is always hazy. If you lost money you speculated. If you made money you were investing. Or was it the other way around?

"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