There is much talk within the industry about the challenging markets and what a tough time we have all been having.
Or the shape of the recovery when it comes? Will it be V-shaped, U-shaped, Bath-shaped or, the latest, Saxophone-shaped? But I want to highlight something even more important. I want to talk about an industry first that was conceived in the summer of 2007 and has now finally come to fruition. Let me take you back two years. The economy was thriving and we were all enjoying far better times. Unemployment was heading to a once-in-a-generation low. That summer, a group of friends from the asset management industry met, and were startled to hear that despite this prosperity, over one m...
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