In this day and age, when hedge funds can no longer generate "guaranteed" returns courtesy of Gerson Lehrman or some other "expert network", when central banks are now openly failing their mandate of preserving the facade that they are invincible and will do "whatever it takes" to support the wealth effect, and where hedge funds are unable to outperform the S&P for the 6th year in a row, it seems there is no sure thing.
Wrong. Because if, gun to our head, we had to put all our money on one trader, just one individual trader, we would do it without hesitation.
The recipient? Giacomo Draghi, son of the infamous former Goldman employee who is currently in charge of the European printing press.
Because when it comes to trading European rates or CHF swaps, who better to have on your team than the son of the person who singlehandedly decides the "fair value" of every single security and market in Europe.
And speaking of sure things, we take readers back to July 2012 when we first introduced the world to young Giacomo, when we said the following:
One thing is certain: unlike various hedge funds, most recently virtually every major fund in Geneva, and even Brevan Howard, Morgan Stanley will never be implicated in Lieborgate and rate manipulation.