Lehman Brothers or Lehman Sisters

I am back tweeting about the book after a long gap. On this day, International Women’s Day, it would be appropriate to pay a tribute to all the wonderful ladies in my life.

In the year 2008, Lehman Brothers collapsed and filed for bankruptcy. Someone said, “It wouldn’t have collapsed had it been Lehman Sisters”.

Yes, women are believed to be wiser than men when it comes to financial decisions. Please read again – the key word is “wise”, and not “intelligent” or “knowledgeable”.

History suggests that eventually wisdom wins over intelligence. The men at Lehman Brothers, and even at many other firms were intelligent and knowledgeable. However, history also tells us that we don’t learn from history.

Lehman Brothers went bust in 2008. It was just a decade ago in 1998 that they had the best view of what went wrong with Long Term Capital Management. Lehman Brothers were custodians for LTCM.

#RidingTheRollerCoaster – 90

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