Sometimes a bank can not put a foot wrong. Then they do.

Last week a promising student trader asked me, which bank is as mighty as Das Deutsche ?

There’s more…..he went on to ask how do HSBC, JP Morgan and Citi rank in terms of profit made in fx?

Wearily but calmly I put him straight. Here’s the thing, HSBC made 22 yards of profit last quarter. Ask the Spot guys how that was done ?

I dare you.

Why is it that to this day DB still has such a great PR machine ? They are leaking money like a hundred geysers but still pay top bonuses. I’d love to find out. In fact I’m going to call my German friends in Frankfurt – maybe they can help.

There’s a guy I like to follow called Wolf. He knows his onions. Enjoy.

Patrick Reid
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