Could we have the start of a bun fight between the professor at one of the UK's leading business schools and billionaire investor George Soros? If so, the professor has just thrown the first bun with his accusation that Soros, who famously shorted sterling in 1992, had remarkable "hubris" for having the gall to criticise derivatives.

It started when Soros last week attacked collateralised debt obligations for being designed purely for fees and commissions and for having attempted to create value "out of thin air".