Prando's Asset Management - Excessive hospitality

The chairman learns what the regulator sees as ‘too much'

Julian Marr
clock • 3 min read

"At what point does this count as a hostage situation?" whispered the chairman of the improbably-sized investment company Prandeamus Asset Management as the fund manager's presentation ticked past the 40-minute mark.

"I don't know why you're complaining," I whispered back. "José-Fredo da Bigbadwolff is one of your own people, after all." "I didn't know he'd go on for so long," sighed the chairman. "In fact, I didn't know there was so much to say about emerging markets. Surely he must be wrapping up soon?" "If anything, I'd say he's getting his second wind," I replied. "Looking at our surroundings, of course, this was only to be expected. But I only realised what a posh restaurant you'd booked when I walked in - and then it was too late." "What's our choice of restaurant got to do with it?" frowned...

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