Last night I had a dream. I was at a shareholders’ meeting of a major global bank. After lunch, the CEO took the podium and delivered an electrifying speech, receiving a standing ovation from the audience. Here is the transcript:
Fellow shareholders, welcome.
As you know we have weathered the financial crisis well. Loss-making quarters have been few and far between. Earnings are recovering. Our balance sheet is getting stronger and stronger. By the standards of the industry we have much of which to be proud. There is only one not-so-small problem: loyal shareholders – you – have made no money.
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