The classic rock song Blinded By The Light highlights a stupid investment trick: buying into the mystique of the white-shoe firms of Wall Street. These firms present themselves as the steady hands of the global economy, but history tells a story of “Madman drummers and bummers” leading the parade.
Goldman Sachs received almost $23 billion in two government bailouts for its missteps during the financial crisis.
Venerable Lehman Brothers, the
What History of Major Banks Reveals About Investment Decision-Making
