This Is How the Wealth Gap Closes
Fortunes will disappear in the blink of an eye.
by Murray Gunn
Updated: April 07, 2021
Back in 1998 when I was working as a bond fund manager in the City of London, I traded the fund's holdings via a number of banks. My broker at one of those banks had a colleague that I got to know well. Most brokers were expected to have multiple clients (funds) but this chap just had one. He was kept on by his firm because his client produced great revenue for it. The name of the client? Long Term Capital Management...
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