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Bankers: a nice description

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This warms my heart. What a nice thing to say of the worlds early bankers. It is good that some things never change.


An Investment Banker: “...a man of known wealth, known integrity, and known ability is largely entrusted with the money of his neighbors. He represents a certain union of

pecuniary sagacity and educated refinement which is scarcely found in any other part of society”.


Walter Bagehot

“A Description of the Money Market” 1873

Thank you , Walter.
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The usual folly - shorting equities is easy. Japan is the same as most developed country exchanges. Shorting is fine on a set list of securities, shorts only executed on an uptick, normal margin requirements. Umbrellas are no different.

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