To track some personally noteworthy events, observations and thoughts, letting them age and savor/regret them again a long time later.
Thursday, September 15, 2011
Bad for our SWFs to invest in UBS, Citi
This is a hard to forgive failure by UBS sin't it? I mean this is coming on the back on so many failures at the bank and also the industry. You would have thought they would have put in strict governance measures to avoid such bombs.
Why our SWF is so in love with them I don't understand. But they also bought Citi which is genetically programmed to get into trouble if you examine their corporate history.
Sure they are too big to fail and that means the only lesson to take away is only to buy them when they are down and out.