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Living in the shadow of a volcano

Comment: Just like the people in Pompeii, managers will ignore the dangers and act as if nothing has happened

What will the asset management landscape look like once the credit crisis has been consigned to the dustbin of history?

Destruction is often regarded as an opportunity for rebuilding, particularly by those with an eye for grand plans. Stalin took advantage of the damage inflicted on Moscow in the Second World War to rebuild parts of the Soviet capital. US lawmakers used the 1929 stock market crash and subsequent depression as a spur for financial regulations that guided the US markets through most of the 20th century.

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