Drunk Trading

Guido had lunch a couple of weeks ago with a reader who had promised to buy him a decent bottle for slotting Damian McBride.

This co-conspirator happens to be one of the most successful traders in the City and a wine buff, so when he says a “decent bottle of wine” we are talking a bottle that you can get a mortgage on.

Over lunch he said that his big break in the early days was trading drunk, a few drinks gave him the confidence to take risk. Guido explained that his drunk trading merely got him carried out the back door of the dealing room by worried co-workers back in his investment banking days.

Anyway, this Friday after a few bottles of rosé* Guido finally steeled himself to short the stockmarket rally via U.S. stock futures. They subsequently rallied into the close taking about 20% of this year’s trading profits with them. Damn the Bloomberg for Blackberry app, damn being able to enter trades from your Blackberry when tipsy.

Anyway the holiday has not been completely blighted, stock markets are going south today. Who knows, Guido might even make a profit…

*People knock rosé wine, including the farmer who is our neighbour here. There are some cracking underestimated varieties which suit Guido’s palate – they go very well with salads. Honestly. Not too bad on their own, in a deck chair, in the shade.




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Quote of the Day

Jeremy Corbyn in the Evening Standard

“… we must also face the uncomfortable fact that a small number of our members and supporters hold anti-Semitic views and attitudes, which need to be confronted and dealt with more rapidly and effectively.

The evidence is clear enough. Labour staff have seen examples of Holocaust denial, crude stereotypes of Jewish bankers, conspiracy theories blaming 9/11 on Israel, and even one member who appeared to believe that Hitler had been misunderstood.

So let me be clear. People holding those views have no place in the Labour Party.

… we have not done enough to get to grips with the problem, and the Jewish community and our Jewish members deserve an apology. My party and I are sorry for the hurt and distress caused. … We must strive to understand why anti-Semitism has surfaced in our party…

… when criticism of or opposition to the Israeli government uses anti-Semitic ideas — attributing its injustices to Jewish identity, demanding that Jews in Britain or elsewhere answer for its conduct, or comparing Israel to the Nazis — then a line must be drawn.  Anti-Zionism is not in itself anti-Semitic and many Jews themselves are not Zionists. But there are also a very few who are drawn to the Palestinian question precisely because it affords an opportunity to express hostility to Jewish people in a “respectable” setting. Our movement must not be a home for such individuals.

Second, there are people who have come to see capitalism and imperialism as the product of conspiracy by a small shadowy elite rather than a political, economic, legal and social system. That is only a step from hoary myths about “Jewish bankers” and “sinister global forces”.

These views do no service to the struggle for a just society.”

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