The truth is that banks are the last feudal kingdoms, their… - Satyajit Das

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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.

Satyajit Das

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finance businessman-as-warrior financial-markets business

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About Satyajit Das

Satyajit Das (born 1957) is an Australian former banker and corporate treasurer, turned consultant, and author.

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John Kenneth Galbraith John Maynard Keynes Benjamin Graham Warren Buffett Michael Lewis

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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?

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

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 on average.

The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenar… - Satyajit Das

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