Sublime

we are aware that several investors are new to the fund and so it may be worth reiterating some ground rules so that you know where we stand one of nomad's key advantages will be

the aggregate patience of its investor base we are genuinely investing for the long term few are if Nomad is to have a competitive advantage over our peers this will come f

dangerous. In my experience, many low-margin practices are more profitable, on a profit-per-partner basis, than higher margin practices with low leverage because of the effective use of leverage.

“He has an amazing sense of risk,” says his former colleague at Smith Barney, Bob Lessin, currently vice chairman of investment bank Jeffries & Company. “He understands it intuitively better than anyone alive, so he doesn’t do stupid things. The industry has a recent history of dramatically mis-pricing risk relative to return. Jamie never fell