Nobody is happy about the fact that the systemically important banks that survived the crisis are now bigger than ever. But at least they’re being regulated to within an inch of their lives. Risk-taking is down substantially, so is leverage, and lots of, shall we say, non-core trading activity has been jettisoned to the hedge…

They’ll deny it: “The market is wrong” or “these are mispriced securities.”

Martin Luther King Jr. conveyed some incredibly moving ideas and left us with a few extraordinary quotations during the course of his life and career.

Video

I’m always fascinated with the way financial pundits discuss their own fallibility and the way they think about the fact that being wrong is an inevitability for anyone venturing guesses about the future. I suppose my interest is a bit like the gleeful enjoyment Hollywood gets out of making films that satire or skewer the…

Yeah I said it…

It can always get better, in markets and in life.