Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events occurring in markets right now and financial history to see what lessons can be taken away, including interviews with some of the most interesting people in the world of finance. To learn more about the podcast, visit onfinance.org.

Look, my mom always told me, if you can't say something nice, say nothing at all. And for that

reason, I try not to say much about Credit Suisse on my channel. But equally I find when I look at my old

videos, I do seem to keep mentioning them and I'm not always nice. This morning I realized

that my mom stole that expression from the Disney film Bambi. She just corrected the grammar

a little bit.

If you can't say something nice, don't say nothing at all.

And I'm not sure that I should go through life following the moral teachings of an animated

rabbit, so I suppose we should once again discuss the goings-on at Credit Suisse.

Now, most of you who don't live in California probably first heard

of Silicon Valley Bank last week when everything fell apart. But I'm sure you're familiar

with Credit Suisse. It's a big firm. Last time I checked it was the eighth largest publicly

listed bank in the world by market cap. Oh, hold on. It's a while since I checked,

and it seems to have lost around $100 billion in market cap over the last 15 years, which is bad.

And it's actually the 155th largest bank in the world today. So yeah, it's around the size of Webster Financial of

Stanford, Connecticut, which I'm sure is a fine institution. Okay, I can tell from your confused

look that not all of you have heard of Webster Financial of Stanford, Connecticut. Well,

what else is there? Um, crocs, you know those rubber clogs? Credit

Suisse is a bit smaller than Crocs, the company that makes those shoes. So, yeah,

Credit Suisse, maybe they could diversify into the flip-flop industry and eventually be bigger than

Crocs. Who knows? Anyhow, it hasn't been a

great week for Credit Suisse. Its biggest investor was asked earlier this week if he would buy more

...