86.4% of statistics are made up on the spot

I am told that 75% of City traders hadn’t even started in the world of work at the time of the LTCM crisis (less than ten years ago in 1998). I don’t know if this is true or not, but it does put this (real, and not said ironically) quote from the senior swaps trader at a top 5 investment bank into perspective:

“In the 3 1/2 years I’ve been trading these markets, I’ve never seen it so bad”.

Ho hum. Elsewhere, it appears the US mortgage market is not completely closed for business, and a few other lenders could probably take some marketing lessons from Ric Flair Finance.

 

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

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