Deutsche Bank Brought in Some Help

Published in

People who work in high finance tend to develop the belief that they know a lot about business, that in fact they are better at business than regular businesspeople, a Bloomberg View reported. This is an understandable belief. The financial industry is a sort of meta-business. Successfully investing in or lending to companies requires you to understand their underlying business, and the deeper your understanding the more confident you will probably be in your investment. Separately, getting internal approvals, at a big bank or investment firm, to invest in or lend to a company generally requires you to perform an understanding of their underlying business, and the more glib and confident you are at demonstrating that understanding the further you will probably go in the financial industry. And if you go far enough you will get quite rich, which will further reinforce your self-confidence. Read more.