Quote of the Day
“There are cases where people who failed can suddenly make a go of it. In the U.S., you can get your second or third chance. In business school, we say that’s one of the virtues of this country.”
– Richard Sylla, economic and financial historian at New York University’s Stern School of Business, commenting on UBS former banker John Costas and Michael Hutchins starting a new bank after losing $3 billion in their previous venture Dillon Read Capital Management.
