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Off the Record

“It’s nearly impossible to say which one you would choose when they go head to head in a pitch for passive mandates. They’re 10-ton gorillas that joust at the top.”
One fund consultant describes the power of BGI and SSgA [see Fund champions go head to head, this issue]

“In China, you can’t get rid of the first wife. You can take a second, and the first one will get a bit pissed off, but you can’t dump her, so you have to manage the situation.”
A banker explaining the challenges of investing in more than one mainland Chinese bank

“Massive bonuses? Sounds like estate agents are trying to talk up the market.”

A rueful banker at a US firm

“If the management couldn’t see what was going on, they must have had shit for brains.”
One veteran options trader comments on losses incurred trading FX at National Australia Bank, currently the subject of a court case [see Wrong revals are not an option, this issue]

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