PPRuNe Forums - View Single Post - 16% pay cut over 5 years!
View Single Post
Old 30th Nov 2011, 09:06
  #35 (permalink)  
jimjim1
 
Join Date: Oct 2007
Location: Here
Posts: 964
Received 3 Likes on 2 Posts
Investment banking

"...another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks with a billion dollars in new assets."

Michael Lewis author of:-

Liar's Poker - His experiences as a bonds salesman around the mid eighties
The Big Short - The 2007/8 banking crisis - people who saw it coming.
Boomerang - Not read it YET

Eye opening books from an (ex) insider.
jimjim1 is offline