A Philosophy of Banking You can think about banking as a trade, or you can think about it as a philosophy. I prefer the latter. Banking is the ballet of business. It requires a combination of strength and grace to navigate such highly leveraged institutions through the unforgiving vagaries of the credit cycle. While there are multiple philosophies of banking, the ones that have proven themselves through time are all rooted in this simple observation. To understand banking, one must appreciate its two most peculiar traits. The first, as I’ve mentioned, is the immense leverage used by banks. The typical...
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John J. Maxfield is a contributor for Bank Director magazine.