Commentary
Throughout my long career as a hedge fund practitioner, I have participated in many major events, and witnessed blow-ups and turmoil that hit the financial markets.
Such major events include the Asian Financial Crisis of 1997-98, the technology meltdown of 2000, the 9/11 terrorist attack incident in 2001, sub-prime crisis of 2007, and the infamous Lehman Brothers bankruptcy of 2008 that led to the global financial crisis of that year.
Recovery takes on different forms for every major market turmoil. The infectious greed of market practitioners corrupts a system, regulators come in and penalize the bad players, the “lucky ones” get around the system, reappear in some other guise and try another approach….