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Off the Record

"Ours is a top-down, bottoms-up strategy"
A slip of the tongue from a fund manager briefing journalists reveals the real reason for his firm’s strong growth

"Our professionals find that joining us provides a significant benefit in terms of financial alignment"
A hedge fund manager can’t quite bring himself to say "we pay them a lot"

"They’re telling investors ‘buy this perp, it’s a natural hedge’ and I’m thinking ‘fuck you it’s a natural hedge, it’s going to cost those guys millions’"
A LatAm DCM banker questions his rivals’ strategy of selling perpetual bonds to Asian investors

"We haven’t lost a senior banker in three years. Taking a team approach works better than the Hollywood-stars style of some other banks"
A senior banker explains the reasons for the success of his investment banking business

"I believe that you are a better captain of a ship if you have experienced a storm before"
A leading structured finance CDO manager makes a cogent case for experience over purely technical ability

"It’s like asking people who are looking to buy a house whether they like estate agents..."
A debt originator’s view on lobbying his clients to vote for him in the Euromoney debt poll. (See Primary debt poll 2007: Service please for results and write up)

"Biting, eye gouging – it was just like the capital markets!"
An origination official reminisces about the nitty gritty of forward play in rugby as a student

"My 10-year-old son could handle you two!"
A rather substantial debt banker’s response to being asked whether he could handle having lunch with both Euromoney’s fixed income editor and managing editor

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