The alchemy of finance
Daniel Gross reports from an event in Davos where people gathered to hear a very rich man -- in this case, George Soros -- say very conventional things. And this was one of the better sessions.
While copies of his new book, The Soros Lectures, were available, the experience got me thinking about another Soros volume, The Alchemy of Finance. It struck me that the difference between banality and profundity is generally a few billion dollars: The real alchemy of finance is to endow those skilled at finance to wield authority in adjacent or even unrelated areas. That's the general theory of Davos, bankers sharing their theories about nonbanking subjects. Stick around and you'll hear a lot of conventional wisdom on globalization, climate change, poverty reduction, financial crisis, but it somehow sounds deeper and more weighty because it's delivered by an extraordinarily wealthy CEO, a private equity executive, or hedge fund manager rather than by a journalist.
January 28, 2010; 10:22 AM ET
Save & Share: Previous: Tim Geithner's honorable unpopularity
Next: Doesn't the SEC have better things to do right now?
Posted by: adamiani | January 28, 2010 11:03 AM | Report abuse
Posted by: jkadvany | January 28, 2010 11:19 AM | Report abuse
Posted by: constans | January 28, 2010 12:09 PM | Report abuse
The comments to this entry are closed.