Did You Know That You Are Like A Bank? Much ink and bandwidth has been spent discussing the recent failures of Signature Bank and Silicon Valley Bank. We tend to think of banks as large and complex entities with lots of complicated financial engineering inside. And to some extent that is true. But the big picture is actually much simpler. The two banks in question came to pass because they had what is known in the trade as a ‘duration mis-match.’ What the heck is that, you may ask
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