The bigger they are, the harder they fall

There is nothing like the feeling of betrayal to ferment bitterness and revenge. Mere victory by a better opponent is honourable but there is something about being made a fool of, especially publicly, and something to do with the doubt cast on your own judgement, that creates lasting rancour. For example, when the scale of the Marconi muddle first became apparent, many fund managers simply refused to believe what they were hearing. Your humble columnist was among them. At least one colleague, familiar with the track record of Lord Simpson et al, had been warning me for years. It was a sta...