February 25, 2008

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A while ago, I suggested that banks employ an 'ombudstrader', who would make the financial decisions the bank suggested, and whose own financial circumstances would illustrate just how wise those calls were. This isn't that, but it's a start: Bank of America's chief investment strategist has become one of their traders. I can almost believe that this isn't a cynical ploy to gain investors' trust, because most of the people who listen to sell-side analysts and 'strategists' are probably not the ones who track hirings and firings at investment banks.

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